Singapore real estate company CapitaLand has said its growth in China remains on track amid slowing economy and leadership transition in the country. It still expects China to account for 45 per cent of the company's assets in the next three to five years. CapitaLand's outgoing CEO Liew Mun Leong said the company is also in a good position to compete with state-owned enterprises in China. Lim Ming Yan...
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Singapore Real Estate Investment Trusts (S-REITs) have outperformed the STI significantly as at end-October this year. And some investors are expecting the good run to continue, driven by capital inflows from stimulus measures in the US. But some analysts warn that the performance of S-REITs may have peaked. Market volatility and economic uncertainties are expected to continue to drive demand for REITS...
A subsidiary company of City Developments (CDL) is the top bidder for a site to develop an executive condominium (EC) at Sengkang West Way/Fernvale Link. The land parcel received a total of six bids at the close of tender on Thursday. Verspring Properties has put in the highest bid of S$135 million or S$296 per square foot per plot ratio (psf ppr). This is 0.1 per cent higher than the second highest...
Property group UOL posted a 13 percent decline in third quarter net profit to S$87.8 million compared to a year ago. However group revenue for the three months ended September 30 fell 33 percent to S$277 million on-year. In its filing to the stock exchange on Thursday, the company attributed the decline to the drop in property development revenue from S$267.4 million to S$133.7 million following the...
The startling headline this week on the front page of a newspaper pointed to more than 100,000 private housing units in the pipeline as at the end of the third quarter, a record high since data was collected more than a decade ago. The number included private housing supply of 83,975 units, 9,824 Executive Condominiums and an estimated 10,070 units that will be developed from sites sold or slated for...
Property developers sentiment showed moderate improvement in the third quarter compared to the previous quarter. This is according to the REDAS-NUS Real Estate Sentiment Index (RESI) Survey for the third quarter of this year. The Composite Sentiment Index, the indicator for overall real estate market sentiment in Singapore, stood at 4.9 in Q3 compared to 4.7 in Q2. The current sentiment index stood at...
Asia's largest logistic facilities provider, Global Logistics Properties (GLP), will contribute 30 properties in Japan to set up a real estate investment corporation in Japan (J-REIT). The properties are worth US$2.6 billion (S$3.2 billion) and GLP expects to raise a net US$1.3 billion (S$1.6 billion) from the sale of the assets. In a statement on Thursday, GLP says the proceeds will be used primarily...
Grade A offices in areas like Shenton Way and Raffles Place are now looking more attractive to Singapore firms. Experts said companies are taking advantage of cheaper rentals, as well as more space made available by large multi-national firms moving into the Marina Bay Financial District. IT marketing firm Sapient said they struck a pretty good deal for their current space at Cecil Street. After...
CapitaLand said yesterday its third-quarter net profit rose 85 per cent due to higher operating income and one-time gains from asset sales, mainly in its key Singapore and China markets. South-east Asia's largest property developer by market value also reiterated its confidence in those two countries, pledging new investments there while playing down the impact from slowing economic growth and recent...
The Singapore real estate investment trust (REIT) market is up about 40 per cent this year -- double the returns in major REIT markets like the US and Japan. While returns and yield spreads on Singapore REITs may be the best in the world, some analysts said the market could become over-invested In 2002, CapitaMall Trust became the first Singapore-listed REIT. A decade on, there are over 20 REITs across...