Singapore Real Estate
JTC launches B2 sites in Tampines North and Jalan Papan
JTC has launched two sites under the 2H2023 Industrial Government Land Sales (IGLS) Programme. The two sites are zoned for Business 2 or heavy industrial use. The first site, located at Plot 11a Tampines North Drive 5, has been launched for tender. Spanning 0.54ha, the site has a tenure of 30 years and a gross plot ratio of 2.5.
https://www.edgeprop.sg/property-news/jtc-launches-b2-sites-tampines-north-and-jalan-papan
Top Global sells two ground-floor retail units in 15 Scotts for S$31.08 million
Sukmawati Widjaja’s Top Global is selling the entire ground floor, comprising two freehold retail units, in 15 Scotts to jewellery store House of Hung for S$31.08 million. This works out to S$4,828 per square foot (psf) on a strata area of about 6,437 sq ft.
https://www.businesstimes.com.sg/property/top-global-sells-two-ground-floor-retail-units-15-scotts-s3108-million
Companies’ Brief
ESR-Logos Reit posts 5.6% drop in H1 DPU to S$0.01378 on enlarged unit base
ESR-Logos Reit’s distribution per unit (DPU) fell 5.6 per cent to S$0.01378 for its first half year ended June, from S$0.01460 the year before. An advanced distribution of S$0.00448 per unit was paid on Apr 14 for Jan 1 to Feb 26, ahead of the trust’s private placement which was completed earlier this year. The remaining distribution for H1 will be paid out on Sep 27.
https://www.businesstimes.com.sg/companies-markets/esr-logos-reit-posts-56-drop-h1-dpu-s001378-enlarged-unit-base
https://www.theedgesingapore.com/capital/results/esr-logos-reits-1hfy2023-dpu-falls-56-y-o-y-1378-cents-mainly-enlarged-unit-base
Frasers Centrepoint Trust’s committed retail portfolio occupancy at 98.7% in Q3
Frasers Centrepoint Trust’s committed occupancy for its retail portfolio rose 1.6 percentage point to 98.7 per cent year on year in the third quarter ended Jun 30, on the back of firm leasing demand.
https://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-trusts-committed-retail-portfolio-occupancy-987-q3
https://www.theedgesingapore.com/news/company-news/fct-reports-portfolio-occupancy-987-3qfy2023
Keppel Reit H1 DPU falls on higher property expenses, borrowing costs
Keppel Reit’s distribution per unit (DPU) fell by 2.4 per cent to S$0.029 for the first half of the 2023 financial year ended Jun 30, down from S$0.0297 the year before, its manager said on Tuesday (Jul 25).
https://www.businesstimes.com.sg/companies-markets/keppel-reit-h1-dpu-falls-higher-property-expenses-borrowing-costs
https://www.theedgesingapore.com/capital/results/keppel-reit-reports-24-lower-dpu-290-cents-1hfy2023
Mapletree Logistics Trust posts 0.1% rise in Q1 DPU to S$0.02271
The manager of Mapletree Logistics Trust (MLT) reported a distribution per unit of S$0.02271 for the first quarter of financial year 2023 and 2024, up just 0.1 per cent from a DPU of S$0.02268 for the same period a year ago.
https://www.businesstimes.com.sg/companies-markets/mapletree-logistics-trust-posts-01-rise-q1-dpu-s002271
https://www.theedgesingapore.com/capital/results/mapletree-logistics-trust-holds-1qfy2024-dpu-steady-2271-cents
SLB Development reports loss of $2.8 mil for the 2HFY2023
SLB Development has reported a loss of $2.8 million for the 2HFY2023 ended May 31, down from its earnings of $14.2 million in the corresponding period the year before. As guided on July 20, the company’s loss was due to lower revenue and higher finance costs for the period.
https://www.theedgesingapore.com/capital/results/slb-development-reports-loss-28-mil-2hfy2023
Suntec Reit posts 27.7% drop in H1 DPU to S$0.03476
Suntec Real Estate Investment Trust (Reit)’s distribution per unit (DPU) fell 27.7 per cent to S$0.03476 for its first half ended Jun 30, from S$0.04810 in the same period a year earlier.
https://www.businesstimes.com.sg/companies-markets/suntec-reit-posts-277-drop-h1-dpu-s003476
https://www.theedgesingapore.com/capital/results/suntec-reits-1hfy2023-dpu-drops-277-y-o-y-3476-cents-higher-financing-costs-and
Global Economy & Real Estate
Global economy shows signs of resilience despite lingering threats: IMF
https://www.straitstimes.com/business/economy/global-economy-shows-signs-of-resilience-despite-lingering-threats
US Fed meets to consider raising rates to 22-year high
https://www.businesstimes.com.sg/international/us-fed-meets-consider-raising-rates-22-year-high
https://www.straitstimes.com/business/fed-set-to-raise-rates-to-22-year-high-and-decide-if-its-done-hiking
https://www.channelnewsasia.com/business/us-fed-interest-rate-hike-inflation-target-3653476
US consumer confidence rises to two-year high in July
https://www.businesstimes.com.sg/international/us-consumer-confidence-rises-two-year-high-july
China property firms rally after Beijing pledges economic support
https://www.businesstimes.com.sg/property/china-property-firms-rally-after-beijing-pledges-economic-support
https://www.channelnewsasia.com/business/chinas-property-firms-rally-after-beijing-pledges-economic-support-3651976
IMF says China’s economic malaise is holding back global recovery, with ‘cross-border spillovers’
https://www.scmp.com/economy/china-economy/article/3228876/imf-says-chinas-economic-malaise-holding-back-global-recovery-cross-border-spillovers
Business confidence slips further as Germany faces sluggish recovery
https://www.businesstimes.com.sg/international/business-confidence-slips-further-germany-faces-sluggish-recovery
Hong Kong ramps up its game in bid to strengthen appeal as financial hub
https://www.straitstimes.com/business/hong-kong-ramps-up-its-game-in-bid-to-strengthen-appeal-as-financial-hub
IMF sees Japan’s economy growing 1.4% in 2023, warns of inflationary pressures
https://www.businesstimes.com.sg/international/imf-sees-japans-economy-growing-14-2023-warns-inflationary-pressures
https://www.channelnewsasia.com/business/imf-urges-boj-move-away-yield-control-prepare-future-tightening-3653101
South Korea consumer sentiment climbs for fifth month
https://www.businesstimes.com.sg/international/south-korea-consumer-sentiment-climbs-fifth-month
UK’s wealthy parents give their kids a 10-year head start in housing
https://www.businesstimes.com.sg/property/uks-wealthy-parents-give-their-kids-10-year-head-start-housing
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