By Cheryl Tay Guthrie GTS, an investment holding company in Singapore, and Sun Venture, a Singapore-based real estate investment company, are continuing to tap the strata commercial property market. The Guthrie-Sun Venture tie-up acquired all 66 Burlington Square(pictured) office units from a Wing Tai-City Developments Ltd venture for a total price of around S$89.3 million, approximately S$1,318
read the rest…
by Cheryl Tay Business operators and investors continue to flock to Singapore’sindustrial property market, driven by higher rental yields as compared to residential properties. According to a report by The Business Times, industrial property became a popular alternative for investors since the introduction of the additional buyer’s stamp duty (ABSD) in December last year. The report
read the rest…
Fortune Real Estate Investment Trust (Fortune Reit) is expected to offer stable dividends with growth opportunities, following the recent upgrade of its current properties, acquisitions and growth in Hong Kong’s retail market, according to OCBC Investment Research. A report by The Business Times revealed that the research house has initiated the coverage of the Reit
read the rest…
Cambridge Industrial Trust (CIT) will acquire Nobel Design Holdings’ Tai Seng Street property for S$72.33 million, which is inclusive of the S$13.08 million for works to expand the site’s gross floor area (GFA), according to a Business Times report. The leaseback agreement between the two Singapore-listed companies allows Nobel Design to lease the property for
read the rest…
Global Logistic Properties (GLP) is planning to list some of its warehouse properties in Japan over the next few months, and is expected to raise about US$1 billion (S$1.26 billion), said a Business Times report. Reuters reported last September that GLP was planning to raise about 100 billion yen (S$1.56 billion) through an initial public
read the rest…
A dispute between Starhill Global Reit and Toshin, a unit of Takashimaya and the master tenant at Ngee Ann City (pictured), over whether a process used to set retail rents is still operable, was heard before the Singapore Court of Appeal. According to a report by The Business Times, the issue deals with whether the
read the rest…
Turf City sub-tenants (pictured) are caught in the middle of an on-going tussle between the mall’s outgoing and incoming landlords, according to a report by The Business Times. The High Court has set aside the injunction order obtained in January by Cogent Land Capital, the new master tenant. The order stopped Singapore Agro Agricultural (SAA),
read the rest…
Development charges (DC) for most major use groups have moved upwards every six months since September 2010. However, property consultants expect this trend to reverse as another revision takes effect come 1 March 2012. According to a Business Times report, the movement will likely be visible in certain use groups, as some property market segments
read the rest…
The gloomy economic outlook this year has affected the expansion plans of many companies. Those that remain keen on market expansion now prefer Malaysia and Indonesia over China, according to a report by The Business Times. Latest figures from the Business Times-UniSIM Business Climate Survey showed that only 64 percent of the 135 firms polled
read the rest…
Standard Chartered Bank has sold its two-storey corner space at Peace Centre along the junction of Sophia and Selegie Roads for slightly over S$11 million, according to a Business Times report. The bank used to operate a branch office at the location. After two collective sales attempts last year, the space is now vacant. A
read the rest…
