Mainboard-listed Straits Trading Company has acquired the Rendezvous Grand Hotel Melbourne for S$79.3 million. The company said this latest acquisition will add to its Rendezvous Hospitality Group portfolio. It will also strengthen and expand its footprint in the Asia Pacific region amid growth in travel and tourism. Mr Eric Teng, Straits Trading's Chief Executive Officer (Property & Hospitality)...
Australia Property
Sydney is Australia's most populous city and its housing sector offers investors unique opportunities with the security that comes with investing in a large and rapidly expanding market. Property prices in Sydney have increased 25 per cent in the last four years, during which many other housing markets around the world have stagnated or even gone backwards. The reason that Sydney's housing prices have...
CapitaLand's Australian subsidiary, Australand, said its industrial and residential properties in Queensland have been affected by the floods. CapitaLand announced in a filing with the Singapore Exchange that the situation for its Australian assets remains uncertain as the clean-up continues, and the full impact is yet to be determined. Australand's industrial assets at 44 Cambridge Street and 99...
Australian real estate may present a good investment opportunity next year as a robust economy and a growing shortage of homes underpin prices that, according to analysts, have room to go up still further. Analysts say that foreigners will be drawn to the market, with Chinese, Singaporean and Malaysian buyers continuing to lead demand. Despite restrictions on foreign buyers of Australian properties, Asian...
Pan Pacific Hotels Group yesterday announced that its wholly-owned subsidiary, Success City, had agreed to acquire Hilton Melbourne Airport Hotel in Australia for about $141.6 million as part of its regional expansion plans. Pan Pacific, part of the UOL Group, said it planned to manage the 276-room hotel under its Park Royal brand. The acquisition could, through economies of scale and greater brand...
Sydney undersupplied, but Melbourne is where potential lies Singaporean property buyers who may be looking for opportunities to invest Down Under should consider picking up Melbourne residential properties given the high housing demand and potential for price appreciation there. "Australia remains in chronic undersupply in housing," said Mr Bob Johnston the managing director of Australand, the...
CapitaLand's Australian unit, Australand, said on Tuesday that it returned to the black for the first half this year. Australand's net profit for the six months ended in June came in at 72.2 million Aussie dollars. That's a reversal of the 268.8 million Aussie dollar loss it incurred over the same period last year. Much of the improvement was due to investment property revaluation gains of 11.7 million...
CapitaLand's Australian unit, Australand, said on Thursday that it has established a 1.3 billion Australian dollar unsecured debt facility. This replaces existing secured facilities totalling A$1.15 billion. The new facility comprises three tranches: A$325 million expiring in June 2012, A$650 million expiring in June 2013 and A$325 million expiring in June 2014. Australand said the new facility reduces...
Analysts said more Singaporean investors are increasingly moving to conservative asset classes. Among them, properties Down Under. Westpac Private Bank has seen 18 per cent of its Australia and New Zealand multi-currency home loans coming from Singapore in the past nine months, up by six percentage points over the same period last year. They attribute the increase to poorer risk appetite after the recent...
Investors here are increasingly moving to conservative asset classes, such as overseas properties in Australia, because of poorer risk appetite after the recent global financial crisis. According to Westpac Private Bank, it has seen 18 percent of its Australia and New Zealand multi-currency home loans coming from Singapore in the past nine months, up 6 percentage points over the same period last...