CAPITACOMMERCIAL Trust, the office landlord run by CapitaLand, will pay investors 23 per cent more in dividends for the second quarter, as it earned more rental income. Shareholders will receive $36.1 million, or 2.6 cents a share, for the three months ended June 30, from 2.12 cents a year earlier. CapitaCommercial also expects to post higher income for the rest of the year, as it increases rents on...
There is a distinct possibility of lower prices with so many developments set to be completed at the same time RECENT arguments against earlier predictions of a private housing oversupply are overblown, and cannot be further from the truth. In fact, those predicting an oversupply are probably understating their case. How bad the market fares will depend on the economy. But, leaving the economic factor...
DESPITE its ups and downs, property appears to be the main investment path for those with surplus cash who want to diversify from their existing businesses. So it was with stockbrokers Han Seng Juan and David Loh Kim Kang when they founded Centurion Properties a couple of years ago. They’re the “David and Han Team” or “The Dream Team”, as they are popularly known in the stockbroking world, due...
Singapore is now the fifth most expensive city in Asia, according to Mercer Worldwide Cost of Living Survey. Singapore’s rise in rankings is partly due to the appreciation of the Singapore dollar against the US dollar. Other contributing factors include its high quality of living and continued strength as a regional hub. Tokyo is the costliest Asian city, followed by Seoul, Hong Kong and Osaka. In...
Ascendas India Trust (a-iTrust) has announced a distribution per unit of 1.65 cents for its first quarter ended June. This represents an annualised yield of 8.3 per cent over a-iTrust's closing price on Tuesday. The trust said its distributable income for the quarter came to S$12.4 million, 12 per cent higher than the same period last year. a-iTrust said its better showing was supported by rental growth...
Owners of Robin Court and No. 1 Robin Drive are putting their properties up for collective sale for a second time. But this time, their asking price is 40% below their initial expectations. The indicative price of the combined plots is now S$$58 million to S$60 million. No development charge is payable for redeveloping the site. The prime District 10 parcel at Robin Drive, off Bukit Timah Road, is a few...
Frasers Centrepoint Trust said its third quarter distributable income came to S$12.2 million, up 19% on year. Third quarter gross revenue grew 10% to S$20.8 million while net property income increased 12% to S$14.1 million. This was driven by strong rental renewals at its Causeway Point and Anchorpoint malls. Causeway Point renewed rentals at 17% above previous rates in the third quarter. Anchorpoint's...
CapitaCommercial Trust (CCT) will distribute 5.19 Singapore cents per unit for the first half of this year. This is about 23% higher than the same period last year. It also exceeds the trust manager's forecast by 4.2 per cent. The annualised distribution per unit (DPU) of 10.44 cents would provide a distribution yield of 5.5 per cent based on CCT's closing price on Tuesday. CCT, Singapore's largest...
Ascott Residence Trust is setting itself a mid-term target of having emerging markets form 70 per cent of its portfolio. The trust's current holdings of S$1.5 billion are split 50-50 between what it terms stable economies like Japan, and emerging ones like Vietnam. It made the comment when announcing its first half earnings on Wednesday. Emerging markets are proving to be a lucrative proposition for...
Some 1,200 home hunters thronged showflats at Park Central@AMK on the first day of its launch on Wednesday. Of these, 130 have already applied for the flats, which will be ready in 2011. The project is Singapore's third condominium-style public housing, and a queue to view the showflats started forming at 5am. All 578 units at Park Central@AMK come with fittings like built-in wardrobes, air-conditioners...