Suntec Real Estate Investment Trust (Suntec REIT) has reported a 6.2 per cent on-year decline in distribution per unit at 2.326 cents for the fourth quarter of 2012. In a statement, ARA Trust Management (Suntec) Limited, manager of Suntec REIT, said its income available for distribution fell 5.3 per cent on-year to S$52.39 million in the fourth quarter. It added that fourth-quarter gross revenue and net...
real-estate
Mapletree Industrial Trust has raised its distribution to unitholders for its fiscal third-quarter by 7.4 per cent from a year earlier, thanks to higher rentals and improved occupancy rates at some of its properties. Distribution per unit for the three months ended Dec. 31 was 2.32 Singapore cents, compared with 2.16 Singapore cents in same period last year, the real-estate investment trust said in a...
Frasers Centrepoint Trust’s (FCT) first quarter distribution per unit (DPU) increased 9.1 per cent on-year to 2.4 cents from 2.2 cents. That was FCT’s highest ever first quarter DPU. Gross revenue went up 5.8 per cent on-year in the three months ended Dec.31 to $37.9 million, while income available for distribution rose 10.8 per cent on-year to hit $21.8 million. The strong quarterly earnings came...
Singaporean property investors are already looking overseas in ever larger numbers after the introduction of the most recent attempts to cool the local market earlier this month. Developers and agents reported raised levels of interest and strong sales at the 14 overseas property exhibitions which took place last weekend. Although no official records are kept for the number of Singaporeans buying...
Property analysts said developers will probably have to get more creative in order to move sales after the introduction of new cooling measures recently. One developer told Channel NewsAsia that it is planning to complete its condominium project a year ahead of schedule to entice buyers. To date, 380 of the 500 units launched at La Fiesta at Sengkang have been sold. There are 810 units at La Fiesta in...
A good class bungalow (GCB) at 8 Chee Hoon Avenue will be auctioned next month and is expected to fetch S$23 million, said marketing agent Savills. With a land area of 15,184 sq ft, the elevated site offers a 37m frontage. It is within close proximity to various amenities like the Botanic Gardens, Cluny Court and Serene Centre, as well as reputable schools. The bungalow will be put under the hammer on 27...
City Developments third-quarter profit rose 1.8 per cent, helped by contributions from its office buildings. Net income for the 3 months ended September 30 was S$134.5 million up from S$132.1 million a year earlier. Sales increased 3.4 percent to S$832.9 million. Pretax profit from its rental properties including office buildings more than doubled to S$71.2 million. “While the outlook for the property...
National Development Minister Khaw Boon Wan says "plenty" of housing units are coming on stream, with about 200,000 units to be built by 2016. Of these, about 80,000 are private properties, 10,000 are Executive Condominiums and 110,000 are HDB units. Mr Khaw said this is equivalent to the building of four new Ang Mo Kio towns by 2016. He made the comments in a blog post, "Enough Homes for All", on...
Asking prices of private resale homes appear to be holding up right after the new cooling measures kicked in over the weekend. But some analysts said sellers may be forced to lower their expectations if sales volume stays thin and developers cut prices of new units in the market. Following the implementation of new cooling measures, some analysts have said the resale property market will be "quiet" or...
Luxury property prices in Singapore are not about to come crashing down following the latest government cooling measures. With demand for high-end properties already depressed, experts said the new policies will unlikely drag prices lower. Traditionally dominated by rich foreigners, the expected comeback of investors from China may prop up prices in this segment. With 34 out of 66 units at The Marq on...