Shopping mall developer CapitaMalls Asia has posted S$232 million in net profit for the second quarter of the year, up 40.7 per cent from the same period last year. CapitaMalls Asia attributed the rise in net profit to portfolio gains from its injection of two of its China assets into a private fund, as well as contributions from newly-acquired properties in Japan and China. Group revenue for the three...
economy
Monthly rentals of luxury apartments fell 0.8 percent in Q2 this year due to tighter immigration rules, noted Colliers International Research. The consultancy stated that stricter immigration controls affected spill-over leasing demand from foreigners who cancelled or postponed their buying decisions due to the additional buyer’s stamp duty (ABSD). “Coupled with the seasonal summer break lull, the...
Housing prices in Singapore could fall 10 to 15 percent in the next 12 months, according to a report by UBS. UBS claimed that while the property market remains resilient despite the government’s cooling measures, it is near a tipping point. However, this outlook is significantly more pessimistic than other expert predictions which expect stable prices or a lesser decline of up to five percent. While...
CapitaRetail China Trust (CRCT) has reported higher distribution per unit (DPU) of 2.41 Singapore cents for the second quarter of 2012. This is an increase of 12.1 per cent over the 2.15 cents in the same period last year. Gross revenue for the three months ending June 30 increased 24.3 per cent year-on-year to S$38.1 million, while net property income was up 20.9 per cent year-on-year to S$24.9 million....
Starhill Global REIT (SGREIT), owner of the Wisma Atria shopping mall in Orchard road, on Tuesday reported a 3.8 per cent increase in second quarter distribution per unit to 1.08 cents, from 1.04 cents a year earlier. Net property income for the three-month period rose 4.4 per cent to S$37.1 million. Revenue for the period ended June increased 4.8 per cent to S$46.4 million, up from S$44.2 million in the...
Mapletree Industrial Trust (MIT) on Tuesday reported a 14.1 per cent year-on-year increase in its first quarter distribution per unit (DPU) to 2.26 cents. The DPU was up from the 1.98 cents DPU it posted in the same period a year ago. Distributable income for the quarter ended June also rose by 27.1 per cent to S$36.9 million from S$29 million last year. The trust, partly-owned by Temasek Holdings,...
Ascendas India Trust has reported a 20 per cent drop in its distribution per unit to 1.20 Singapore cents for the first quarter ended June. This was mainly due to a weaker rupee which helped to reduce the trust's distributable income by 19 per cent to S$9.2 million. In the past year, the Singapore dollar has risen 20 per cent against the Indian rupee. Still, the trust's total property income rose by 3...
Homebuyers in Singapore will likely opt for mortgage loans with shorter repayment periods. That's despite the availability of new home loans that offer up to 50-year tenors. Experts said more are taking into account their retirement age and interest costs when servicing their loans. Currently Singapore banks are offering home loans with a maximum term of 35 to 40 years with age capped at 70 to 75. UOB...
CapitaCommercial Trust (CCT) said on Friday that its second quarter distribution per unit (DPU) rose 7.3 per cent on-year to 2.06 cents. It is its highest quarterly DPU since 2009 and comes on the back of strong revenue from its acquisition of Twenty Anson and higher rental income from HSBC Building and Raffles City Singapore. Higher yield protection income from One George Street also contributed to the...
Private home prices in Singapore have been on an uptrend post-global financial crisis, with the market having risen about 55 per cent since the middle of 2009 to hit a new high. Excess liquidity in Asian markets, a lacklustre United States economy and weakening European markets - as well as local factors such as low mortgage rates, higher immigration numbers, rising affluence and decreasing household sizes...