CDL Hospitality Trusts has reported a distribution income of nearly S$7.9 million for the period from July 19 to September 30.This is 6 percent higher than its forecast during its initial public offering, and it works out to a distribution per unit of 1.13 cents. CDL Hospitality was listed on July 19. Property income was 2.7 percent better than projected at S$10.3 million. CDL Hospitality says it...
Property Investment
Ascott Group says its third quarter profit jumped 270 percent to S$59 million.For the nine months to September, Ascott's profit of S$140 million has already surpassed last year's full-year income of S$42 million.Ascott's strong performance was boosted by gains from selling 12 of its serviced residences to Ascott Residence Trust and its robust operating performance. Its acquisitions and managements...
CapitaLand has received approval to list its CapitaRetail China Trust on the main board of the Singapore Exchange.The private trust set up by CapitaLand will be the first China retail Real Estate Investment Trust in Singapore.CapitaRetail China Trust has an initial portfolio of seven retail malls located in five cities across China. The portfolio is valued at S$690 million and has a total gross rentable...
Macquarie MEAG Prime REIT has outperformed its IPO projections for the third quarter.For the three months to September, it booked a distributable income of $13.7 million.That is 9 percent higher than its IPO forecast of S$12.5 million. It translates to a distribution of 1.44 cents a unit. Property income was S$17.4 million or 4 percent higher than projected. The property trust attributed the strong...
The top end of the property market has moved fast over the past 18 months due to foreign interest. Across the board, foreigners made up about 22 per cent of the total purchases in Singapore. According to Mr David Neubronner, executive director of property consultancy Savills Residential, of the more than 9,000 purchases in the first half of 2006, around 1,900 were by foreigners. "The percentage goes up...
The property market, which in the past few months has been driven largely by an interest in high-end residential developments, is starting to enjoy a more broad-based recovery. This observation was made by Mr David Neubronner, executive director of Savills Residential, at a weekend property seminar organised by Singapore's largest private developer (Far East Organization) in conjunction with Today and DBS...
CapitaCommercial Trust said Wednesday its distributable income for the third quarter rose 19.2 percent from a year earlier. The commercial property investor reported that distributable income for the three months ended September 30 was S$19.4 million, or 1.80 Singapore cents a unit, compared with S$16.3 million a year earlier. For the month of September, which follows the joint acquisition of the...
Ascendas REIT says its distributable income for the first half of the year improved by 20 percent on year.This amounts to over S$80 million. This will give a distribution of 6.25 cents per unit for the six months to September. For the second quarter alone, its distributable income was up 19 percent to S$40 million. In line with the growing economy in Singapore, the property trust expects demand for...
Indonesia's Lippo Group has bought a waterfront condominium site on Sentosa for nearly S$235m. It beat six other bidders for the site which measures about 2.2 hectares. The purchase price works out to about $818 per square foot per plot ratio. The site, dubbed the Marina Collection, will be developed into luxury waterfront residences. Lippo can build a condominium of up to four storeys, with a maximum...
Rentals for retail properties in Singapore are poised to increase by between 5 and 9 percent this year. A report by property consultant Knight Frank says supply of new retail space in the prime shopping areas remains scarce despite the opening of mega malls such as VivoCity at the HarbourFront area. For the third quarter, Knight Frank says shop space rental in the Marina Centre area moved up 2.5 percent...