News

Commercial Property

Staff Reporter

, Singapore

Published:

8 years ago

Fortune REIT's net property income grew 12.6% to $115.3m in H1

On back of solid rental growth.

Fortune REIT reported that its net property income grew 12.6% year-on-year to $115.3m (HK$654.4m) in the first half of the year.

The growth was driven by solid rental growth across its portfolio as well as additional income contributions from Laguna Plaza, which was acquired in January this year.

According to OCBC Investment Research,Fortune REIT’s financial position remains robust, with manageable gearing and no refinancing needs until 2016.

“We like Fortune REIT for its strong management team and resilient portfolio, as close to 60% of its gross rental income is derived from the non-discretionary retail sector,” OCBC said.

Also Read

CICT NPI rises 6.3% YoY to $293.7M in 1Q24

Commercial redevelopment site on Orchard Road for sale for $438m

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

CICT NPI rises 6.3% YoY to $293.7M in 1Q24

Gross rental income growth and lower operating expenses drove the uptick.

Commercial Property

30 minutes ago

MAS issues 8-year prohibition orders to ex-Prudential rep

The former Prudential rep misappropriated $117K in premiums.

Insurance

42 minutes ago

More homes in the suburbs sold at $2m price: OrangeTee

Buyers likely more willing to pay higher prices for their OCR condos.

Residential Property

6 hours ago

Stronger demand push condo and HDB rents higher

“Too early to call bottom.”

Residential Property

6 hours ago

Exclusives

Industry boosts accounting appeal with new roles, education programmes

There has been a 10% decrease in accounting degree students at universities in Singapore.

Financial Services

2 days ago

20 Hottest Startups of 2024

Sustainability-focused startups dominated the list.

Markets & Investing

Colliers transforms Singapore office into regional powerhouse

The newly revamped office showcases Colliers’ commitment to innovation, collaboration, and sustainability.

Commercial Property

Days of excess are over, investors warn founders

Deal activity in Asia Pacific fell 26.3% YoY in 2023.

Markets & Investing

Event News

APX Technologies leads in ESG Tech with VIDSafe MSS at SBR Technology Excellence Awards 2024

Co-Written / Partner

Their VIDSafe Mobile Elevated Work Platform Safety Surveillance system showcases innovative integration of ultra-low bandwidth video streaming and IoT for sustainable, inclusive safety solutions.

Co-Written / Partner BIGO Technology dominates in AI - Media & Entertainment category at SBR Technology Excellence Awards 2024

Co-Written / Partner SquareX Makes Waves in the Browser Security Space

Co-Written / Partner MUFG Bank triumphs with FinOps - Banking win at SBR Technology Excellence Awards 2024

Co-Written / Partner APX Technologies leads in ESG Tech with VIDSafe MSS at SBR Technology Excellence Awards 2024

Their VIDSafe Mobile Elevated Work Platform Safety Surveillance system showcases innovative integration of ultra-low bandwidth video streaming and IoT for sustainable, inclusive safety solutions.