Singapore Real Estate
JLL, PropNex jointly launch team to focus on luxury homes
To better assist developers selling high-end homes in Singapore, PropNex and JLL have launched a new initiative. A sales team of about 200 agents are carefully selected out of PropNex’s 5,500 salespeople to support the joint efforts of JLL and PropNex in project marketing of luxury homes for developers.
S$85.46m SBF Center office deal inked
An S$85.46 million transaction of office space at SBF Center, which is coming up near Tanjong Pagar MRT Station, has taken place, according to caveats information. The deal reflects a price of S$3,125 per square foot. The space transacted adds up to about 27,350 sq ft, covering all of levels 29 and 30 and eight smaller units on levels 27 and 28 of the 31-storey building.
SingHaiyi must finish City Suites before it can sell stake
Developers facing penalties over unsold housing stock will not be allowed to offload these units before they are completed. Property firm SingHaiyi had asked the Controller of Residential Property to agree to its proposed sale of City Suites – a condominium in Balestier. The developer said last week that its application was rejected, as was a subsequent appeal.
Industrial plot at Tampines goes on sale
A Confirmed List site at Tampines Industrial Drive (Plot 2) has been launched for sale by public tender, JTC announced on Tuesday (Jan 26). The launch is under the first half 2015 Industrial Government Land Sales Programme, it said. The 0.49-hectare site is zoned for Business-2 development, and has a 20-year tenure with a maximum permissible gross plot ratio of 1.4, JTC said.
Industrial property market ‘likely to face headwinds’
The industrial property market ended 2015 on a “muted note” and will likely face headwinds ahead, as the business operating climate is expected to remain challenging this year, said real estate consultancy Colliers International. “Industrialists are expected to remain cost-sensitive and cautious in assessing their real estate requirements in 2016,” Colliers noted in a report out yesterday.
Off-duty firefighters put out Causeway Point fire
Temasek weighing Keppel sale of M1, office Reit stakes: sources
Temasek Holdings Pte is discussing options for portfolio companies Keppel Corp and Sembcorp Industries Ltd, ranging from divesting their non-core assets to selling shares, as the two Singaporean rig builders grapple with the oil-price slump, people with knowledge of the matter said.
Parkway Life Reit’s Q4 DPU up 16.1%
Healthcare play Parkway Life Reit on Tuesday said it has raised its hedging against interest rate movements, and has no long-term loan refinancing needs until 2017, as it reported a 16.1 per cent rise in its distribution per unit (DPU) for the fourth quarter.
NY acquisition boosts Ascott Reit revenue; Q4 DPU of 2.07 cents
Ascott Residence Trust (Ascott Reit) reported distribution per unit (DPU) of 2.07 Singapore cents for the fourth quarter ended Dec 31, down 4 per cent from 2.16 Singapore cents in the same quarter in 2014. Stripping out one-off items amounting to about S$6.1 million in Q4 2014, the Reit would have had an 18 per cent increase in DPU from the adjusted DPU of 1.76 Singapore cents for Q4 2014.
MIT posts 5.6% increase in Q3 DPU
Mapletree Industrial Trust (MIT) posted a distribution per unit of 2.82 cents in the third quarter, up 5.6 per cent from 2.67 cents a year ago. This comes on the back of a 6.6 per cent rise in gross revenue to S$83.3 million, thanks to contribution from the build-to-suit project for Equinix Singapore, higher occupancy rates achieved across all property segments, and higher rental rates in some properties.
Mapletree Logistics Trust
Although Mapletree Logistics Trust (MLT) continued to face headwinds, it delivered positive rental reversions averaging 5 per cent in Q3FY16. Overall portfolio occupancy was kept unchanged at 96.9 per cent on a quarter-on-quarter basis. Year to date, it has renewed or replaced 93 per cent of its leases due for expiry in FY16.
Suntec Reit’s Q4 distributable income up 7.7%
Suntec Reit posted a distributable income of S$69.5 million for the fourth quarter ended December, up 7.7 per cent compared to the previous year. This translates into a distribution per unit of 2.75 Singapore cents, up 6.7 per cent from 2.577 Singapore cents a year ago.
Viva Industrial Trust Q4 DPS down 3.9%
A couple of rounds of equity fund- raising have diluted the fourth-quarter distribution per stapled security (DPS) for investors in business park owner Viva Industrial Trust but the trust manager said on Tuesday that it expects that to improve starting this quarter. It is also considering fund- raising via the use of perpetuals.
Ascott Reit’s 4% drop in DPU due to one-off gains
The boss of Ascott Residence Trust Management expects revenue per serviced apartment in Singapore to remain flat. But chief executive Ronald Tay anticipates revenue earned per unit in Europe, Japan, Vietnam and the Australian city of Melbourne will grow by up to 10 per cent this year.
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Additional Articles of Interests – Local & Overseas Real Estate
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