Commercial Property
GIC, Frasers Property, and JustCo invest $237.89m to develop co-working spaces
GIC, Frasers Property, and JustCo invest $237.89m to develop co-working spaces
The investment will help JustCo expand into eight other Asian countries.
Singapore's ultra wealthy lured to shophouses despite lower yields
Rental yields for some shophouses have compressed over the years and average 2.5-2.7% now.
Commercial site Goldhill Shopping Centre up for en bloc sale at $425m
It has 3 blocks of walk-up commercial units with those in the ground floor used as retail shops.
OUE Q1 profits crashed 90.7% to $1.03m
It blamed a non-cash fair value loss on its investment in a mutual fund.
CityDev Q1 profits down 16.3% to $80.03m
Its sales, however, jumped 66% to 459 units with a total sales value of $792.6m.
UOL Q1 profits dipped 8% to $73.82m
Property development revenue fell 7% due to the completion of Riverbank@Fernvale in March 2017.
OUE C-REIT net property income up 1.8% to $35.28m in Q1
It was able to cut maintenance expenses and utilities cost.
Lethargic bidding dented industrial investment sales by 30% in Q1
But REITs are gaining traction for selling their non-core assets in order to regain capital.
Frasers Property Q2 profits up 74.5% to $124.25m
Its revenue was boosted by sales in China and Australia and contributions from UK business parks.
JTC launches sale of Reserve List site at Braddell Road
A bidder committed a price of $18.3m.
CapitaLand codeveloped first kindergarten in Vietnam
The kindergarten provided education for 350 students aged five and below.
Perennial Real Estate Holdings Q1 profit crashed 86.7% to $5.14m
Its earnings were hit by the partial divestment of TripleOne Somerset.
Chart of the Day: Commercial investment sales crashed 86% to $437.4m
The sale of Capitol Singapore was the lone major transaction in the quarter.
Prime commercial shophouse in New Bridge Road up for sale at $6m
The property is approved for F&B use up to 2019.
Keppel sells Shenyang City township project for $105m
It sold its interests in Keppel Bay Property Development Shenyang, which owns the project.
CBD rent hikes could lure tenants to fringe areas
Tenants are resisting rent hikes in the CBD, which rose 1.3% QoQ.
Shophouse sales soared 281% to $478.6m in Q1
The strong demand came from local and foreign high net worth individuals.
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