Frasers Centrepoint Trust (FCT) has posted a 33.3 per cent on-year increase in its third quarter distribution per unit (DPU). The DPU of 2.60 Singapore cents for the April to June period is the highest the trust has ever paid out, up from 1.95 cents distributed in the same period a year ago. Net property income in the period grew 32.1 per cent on-year to S$24.6 million, up from S$18.7...
economy
Suntec Real Estate Investment Trust has announced that its second quarter distribution per unit (DPU) fell 6.8 per cent year-on-year. The Reit's DPU slipped to 2.361 Singapore cents per unit for the April-June period from 2.532 cents in the same period last year. Suntec said the decline is due mainly to the lower retail revenue from Suntec City Mall and the loss in revenue because of the trust's...
Mapletree Logistics Trust (MLT) has reported a 6.3 per cent on-year rise in its distribution per unit (DPU) for its fiscal first quarter, with its financial performance boosted by contributions from newly acquired assets in Japan, South Korea and Malaysia. Its DPU climbed to 1.70 cents per unit from April to June, up from 1.60 cents in the same period last year. Revenue rose higher to S$77.1 million, up...
National Development Minister Khaw Boon Wan's comments in Parliament on the state of the property market illustrate the conundrum of viewing a glass of water as being half full or half empty. Noting that residential property prices have moderated in recent months, he said the various measures to cool the market "have helped buyers, including those at the middle and low end of the market". Growth in mass...
CapitaMall Trust Management Limited, the manager of CapitaMall Trust announced on Wednesday that it had achieved distributable income of S$79.6 million for the period 1 April to 30 June 2012 (2Q 2012), up 5.5% compared to S$75.5 million for the same period in 2011. Distribution per unit (DPU) for the second quarter was 2.38 cents, up 0.8 per cent from a year ago on the back of higher rents. Gross revenue...
More homebuyers are returning to the private residential resale market as it is seen to offer better value compared to new projects launched by developers. In fact, the gap in median prices of new and resale transactions has also narrowed. That's according to real estate agency Dennis Wee Group (DWG). In a report, DWG said the caveats lodged in the secondary market climbed about 33 per cent in the...
Ascendas Real Estate Investment Trust (A-REIT) has reported a 10.3 per cent on-year increase in Distribution per Unit (DPU) to 3.53 cents for its first quarter ended 30 June 2012. In a filing on the Singapore Exchange, A-REIT said its DPU grew despite a 7.5 per cent increase in units outstanding. The amount available for distribution increased 16.1 per cent to S$76.5 million in Q1. For the first...
K-REIT Asia has announced that its second-quarter distribution per unit (DPU) rose 86.5 per cent to 1.94 cents, up from a restated 1.04 cents in the same period last year. Distributable income for the quarter ended June rose 89.5 per cent to S$49.8 million. The strong performance is due primarily to the income contribution from the 87.5 per cent interest in Ocean Financial Centre, acquired on December...
The debate over industrial property has been consistently grabbing the headlines in recent months. Earlier this month, a news report highlighted a gap in data for industrial property. Apparently, some transactions were not captured in the Urban Redevelopment Authority's Realis database due to incomplete information provided in the caveats lodged. As a result, they were not used in the compilation of...
The property market is expected to see demand rise over the next 12 months from deep-pocketed institutional buyers such as real estate investment trusts (REITs), which are starting to see more value in the local marketplace, analysts say. More REIT listings are also likely to spur acquisitions here. The proposed listing of Ascendas Hospitality Trust is set to be Singapore's largest initial public offering...