Commercial Property
LHN Limited’s net profit drops 16.6% YoY to $38.2m in FY23
LHN Limited’s net profit drops 16.6% YoY to $38.2m in FY23
Despite lower profit, the company proposed a 71.4% YoY higher dividend per share.
ARA US Hospitality Trust divests Hyatt Place Pittsburgh Airport for US$7.7m
The REIT expects to complete the divestment in 1Q24.
50 Playfair Road sold for $81.8m
The property was hotly contested by end-users, investors and developers.
Elite REIT names new CFO
He will succeed Joel Cheah Zhuo Yue who resigned as CFO to pursue other opportunities.
Hongkong Land appoints Michael Smith as new chief executive
He will be succeeding Robert Wong who has been the Chief Executive since 2016.
Starhill Global REIT secures first sustainability-linked facility for $50m
The facility will be used to finance requirements to attain green certification.
Mapletree Non-Executive Director of the Manager resigns
Michael Thomas Smith has resigned to pursue other interests.
Accor’s Hotel Faber Park SG offers unique experience for culture-seeking travellers
Singapore’s first Handwritten Collection hotel was inspired by the iconic Mount Faber.
Keppel releases $200m floating rate notes due 2029
This is pursuant to a $5b multicurrency medium-term note programme.
Sabana Industrial REIT files originating claim against Kleio One-Solution
The tenant occupies the properties at 33 & 35 Perjuru Lane.
PropertyGuru taps Singlife chair to lead its board of directors
Singlife’s Ray Ferguson will begin his role at PropertyGuru on 1 January 2024.
TE Capital-LaSalle JV to acquire VisionCrest Commercial
The asset has an occupancy rate of 99%.
Islandwide vacancy rates for business parks inches up to 19.5% in 3Q23
The poor take-up rate in the East Planning Region affected vacancy levels.
CDL expands UK living sector portfolio with new acquisition in Manchester
The company acquired a freehold project for $125.7m.
LHN Limited warns of lower profits for FY23
The company expects a net profit before tax of $40m.
Industrial rental growth in 2024 to be confined to the logistics sector: expert
In 3Q23, rent for warehouse and logistics properties rose by 0.6% QoQ to S$1.62 per sq ft.
Frasers Property’s attributable profit nosedives to $173.1m in FY23
In FY22, the company recorded an attributable profit of $928.3m.
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