Commercial Property
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COMMERCIAL PROPERTY |
12 hours 52 min ago
88 reads
Bought for S$22.5m, sold for S$32m.
Ascendas Funds Management (S) Limited, the manager of Ascendas Real Estate Investment Trust (A-REIT) announced that HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of A-REIT) has entered into a Conditional Sale & Purchase Agreement (Conditional S&P) with GKE Private Limited (GKE) for the sale of 6 Pioneer Walk for S$32.0 million. Read ››
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COMMERCIAL PROPERTY |
17 May 13
47 reads
She stepped down as executive director and COO behind the reconstitution of the Board following the close of the mandatory unconditional cash offer by Phileo Capital Limited to acquire all the issued and paid-up ordinary shares in the Company's capital. Read ››
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COMMERCIAL PROPERTY |
17 May 13
69 reads
Boosted by strong Thailand resorts occupancy.
According to DBS, Banyan Tree Holdings (BTH) has started the year well, reporting earnings of S$14.2m (+19 y-o-y) on the back of a 17% increase in topline to S$96.9m.
Here's more:
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COMMERCIAL PROPERTY |
16 May 13
114 reads
See how the rest fared.
Jardine Matheson Holdings Limited has issued its Interim Management Statement covering the period from 1st January to 15th May 2013, in which it revealed that the Group’s businesses faced mixed trading conditions, although underlying earnings marginally improved from last year. Read ››
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COMMERCIAL PROPERTY |
16 May 13
146 reads
Orderbook stood at only USD1.1b.
According to Maybank Kim Eng, Swiber has not announced any new contract wins since Feb 2013. Read ››
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COMMERCIAL PROPERTY |
16 May 13
104 reads
Acquisition price pegged at S$264.5m.
According to DBS Group Research, Far East Hospitality Trust (FEHT) this morning gave further details and forecasts on the proposed acquisition of Rendezvous Grand Hotel Singapore and Rendezvous Gallery from Straits Trading Company limited.
Here's more:
Salient points on this proposed acquisition:
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COMMERCIAL PROPERTY |
15 May 13
64 reads
He will also be a member of the Audit Committee. Read ››
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COMMERCIAL PROPERTY |
15 May 13
43 reads
His experience in key financial institutions earned him the nod for the job. Read ››
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COMMERCIAL PROPERTY |
15 May 13
92 reads
He has also been appointed as the Company's CEO on an interim basis until a suitable candidate on a permanent basis is found. Read ››
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COMMERCIAL PROPERTY |
15 May 13
178 reads
Before it gets fully privatised.
According to Nomura, UOL reported 1QFY13 results on 10 May after the market closed. Read ››
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COMMERCIAL PROPERTY |
15 May 13
87 reads
But net profit was flat at S$27m.
According to OCBC Investment Research, CWT’s 1Q13 revenue increased by 39% YoY to S$1.5b, largely due to growth from its newly established Commodity SCM business. Read ››
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COMMERCIAL PROPERTY |
14 May 13
136 reads
More residential launches seen this year.
According to CIMB, Wing Tai Holdings' 3Q13 revenue and core net profit soared 256% and 122% yoy, respectively, mainly attributed to full recognition of Malaysian project, Verticas Residences upon completion and additional sales of Singapore projects. Read ››
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COMMERCIAL PROPERTY |
14 May 13
447 reads
Suntec City Towers2, Samsung Hub set record prices.
According to Savills, the office leasing market was active in Q1/2013. Read ››
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COMMERCIAL PROPERTY |
14 May 13
50 reads
His resignation is a consequence of National Australia Bank's decision to sell its interest in AREA Property Partners, of which he is global chief executive. Read ››
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COMMERCIAL PROPERTY |
14 May 13
86 reads
Blame it on the absence of disposal gain.
According to Maybank Kim Eng, City Development’s (CDL) 1Q13 PATMI came in at S$137.7m, down 12% YoY mostly due to the absence of a disposal gain from the Tagore Avenue warehouse sale in 1Q12, partially offset by gains from strata units sales in non-core industrial assets (Elite Industrial Building 1, 2 and Citimac Industrial Complex).
The report also said that the first quarter PATMI now makes up 20% of Maybank Kim Eng's full year forecast, which they judge to be in line with expectations. Read ››
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COMMERCIAL PROPERTY |
13 May 13
176 reads
Blame it on weak hotel segment.
According to OCBC, UOL’s 1Q13 PATMI decreased 15% YoY to S$71.7m mostly due to a weak contribution from its hotel segment (listed hotel subsidiary PPHG saw its 1Q13 PATMI dip 45% to S$9.5m).
1Q earnings now make up 19% of their full-year forecast, which OCBC judges to be generally within expectations and is tracking marginally below due to lumpy progress
recognition at development projects. Read ››
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COMMERCIAL PROPERTY |
13 May 13
298 reads
AEI increases GFA by 303,753 sqft.
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COMMERCIAL PROPERTY |
10 May 13
107 reads
3% rise in NPI could have been better.
According to CIMB, it expects steady growth for Parkway Life REIT on the back of existing hedges on JPY cashflows and an inflation-pegged rental review in Singapore. Read ››
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COMMERCIAL PROPERTY |
10 May 13
93 reads
It's been rising for 2 consecutive quarters.
According to Savills, even as investment activity in the office sector moderated in Q1/2013, record prices have been achieved.
Buoyant take-up of newly launched strata office units, such as SBF Center on Robinson Road, reignited buying interest in the market and drove up prices of older projects. Read ››
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COMMERCIAL PROPERTY |
10 May 13
112 reads
AAA grade office rents jumped the highest.
According to Savills, a turnaround in average rents of CBD Grade A offices was witnessed in Q1/2013 after falling for six consecutive quarters since Q3/2011.
Rents of such buildings tracked by Savills edged up 1.2% QoQ from S$8.31 per sq ft in Q4/2012 to S$8.41 per sq ft in Q1/2013. Read ››
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COMMERCIAL PROPERTY |
10 May 13
220 reads
Occupancy rate also hit 2-year high.
According to OCBC Investment Research, Fortune REIT (FRT) reported excellent results for 1Q13. Read ››
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COMMERCIAL PROPERTY |
09 May 13
118 reads
Here's what to blame.
According to OCBC Investment Research, ARA Asset Management (ARA) Limited reported topline of S$32.2m for the quarter, a 6% drop y-o-y. Read ››
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COMMERCIAL PROPERTY |
09 May 13
295 reads
Versus last quarter's 80,000 sq ft.
According to Savills data, about 489,000 sq ft of CBD Grade A office space was taken up in Q1/2013, in contrast to the 80,000 sq ft in the previous quarter.
This, together with no new supply during the same period, caused vacancy rates in most micro-markets to fall for the second successive quarter. Read ››
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COMMERCIAL PROPERTY |
09 May 13
168 reads
But strong sales will only show in FY14.
According to Maybank Kim Eng, strong 1Q sales won’t show up yet. Read ››
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COMMERCIAL PROPERTY |
09 May 13
129 reads
Deals of 10,000 sq ft are most sought after.
According to Savills, the office leasing market was active in Q1/2013. Read ››
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COMMERCIAL PROPERTY |
08 May 13
99 reads
He will pursue other career opportunities.
The Board of Ying Li International Real Estate announced the resignation of Lim Gee Kiat as senior vice president for finance. Read ››
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COMMERCIAL PROPERTY |
08 May 13
143 reads
It points to its latest acquisitions.
According to CIMB, in the 1Q13 earnings call, management clarified a few key issues: 1) the rise in admin expenses was largely one-off, 2) principal approval to partially convert 6 Shenton Way into a serviced apartment has been obtained, and 3) it plans to go ahead with the REIT plan. Read ››
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COMMERCIAL PROPERTY |
07 May 13
149 reads
Agreements were worth S$287.4 million.
According to OCBC, Ascott Residence Trust (ART) has entered into conditional agreements to acquire three prime serviced residences in China and a portfolio of 11 rental housing properties in Japan for S$287.4m at an EBITDA yield of 5.4% on a pro forma basis for FY12.
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COMMERCIAL PROPERTY |
06 May 13
181 reads
Rents likely to be pushed up.
According to Savills, the Monetary Authority of Singapore’s latest quarterly survey revealed that economists from the private sector are still positive about the Singapore economy and expect a 2.8% growth for the whole of 2013.
This is near the top end of the government’s forecast of 1% to 3%. Read ››
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COMMERCIAL PROPERTY |
06 May 13
109 reads
Property proposal worth S$287.4m is under way.
According to DBS, Ascott Residence Trust (ART) is proposing to acquire 3 serviced residences properties in China and 11 Rental Housing Properties in Japan for S$287.4m from its sponsor, Ascott Group.
The properties will be acquired at a slight discount to valuers’ valuation and the purchase price implies an initial EBITDA yield of 5.4%. Read ››
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COMMERCIAL PROPERTY, RESIDENTIAL PROPERTY |
03 May 13
159 reads
He has been senior director of International Enterprise Singapore.
The Board of Debao Property Development announced the appointment of Jack Chia Seng Hee as director. Read ››
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COMMERCIAL PROPERTY |
03 May 13
129 reads
After acquiring China, Japan assets.
According to DBS, ART has announced the acquisition of 3 serviced residences in China and 11 rental housing properties in Japan for S$287m (at a blended EBITDA yield of 5.4%), which will be funded by a near-even debt-equity split.
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COMMERCIAL PROPERTY |
03 May 13
176 reads
Thanks to disposal gain from Chongbang Holdings.
According to Phillip Securities Research, Ho Bee reported 1Q13 PATMI of S$52.1mn. Read ››
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COMMERCIAL PROPERTY, RESIDENTIAL PROPERTY |
02 May 13
189 reads
Nine-month profit also ballooned by 105%.
For the quarter ended 31 March 2013 (3Q13), homegrown lifestyle property developer Oxley Holdings Limited (Oxley) has posted a 142% rise in net profit attributable to shareholders of $13.2 million on revenue of $70.6 million, compared to $5.4 million on revenue of $48.1 million in the previous corresponding period (3Q12). Read ››
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COMMERCIAL PROPERTY |
02 May 13
314 reads
It's a 12-storey tower.
In a release, Sinarmas Land Limited announced that it has entered into an agreement for the sale and purchase of the property known as New Brook Buildings, 8-18 Great Queen Street, London, United Kingdom. Read ››
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COMMERCIAL PROPERTY |
02 May 13
170 reads
D'Leedon sold 481 units.
According to Phillip Securities, CapitaLand started the year with 1Q13 revenue at $661.9mn (+3.2%y-y), mainly due to strong contributions from Singapore projects The Interlace, Urban Resort Condominium and Sky Habitat, as well as from China where units were handed over to buyers of The Metropolis in Kunshan.
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COMMERCIAL PROPERTY, RESIDENTIAL PROPERTY |
01 May 13
101 reads
His portfolio will be changed to assist the Group in developing and expanding business operations in Malaysia. Read ››
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COMMERCIAL PROPERTY |
01 May 13
102 reads
Tan Sek Khee, Ho Sheng and Tan Kim Seng was appointed directors while Lui Seng Fatt and Chan Hock Eng retired. Read ››
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COMMERCIAL PROPERTY |
01 May 13
237 reads
Tenant sales surged 15.9%.
According to CIMB, CMA’s 1Q13 property income in China was boosted by new contributions from Olinas Mall and the recent completion of Star Vista. Read ››
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COMMERCIAL PROPERTY |
01 May 13
276 reads
A massive disappointment from property projects.
According to a release, Far East Orchard Limited's gross profit for Q1 2013 at $5.3 million was lower by $27.4 million or 83.8% compared to $32.7 million achieved in Q1 2012. Read ››
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