by Cheryl Tay CEOs of Reits owning office properties are still optimistic despite weaker rents and a volatile macroeconomic outlook, according to a recent media report. During the global financial crisis, Grade A office rents plunged to about S$8 psf in 2009 from nearly S$19 psf in 2008, due to an oversupply of office space and
read the rest…

by Cheryl Tay Capital values recorded their first moderation after two and a half years, following the pressure from easing office rents in Q2 2012, according to the latest quarterly research report by Colliers International. Over the same quarter, the office property sector also saw a slowdown in the decline of rents, as well as a
read the rest…

by Cheryl Tay CapitaMalls Asia (CMA) is set to double the value of its China malls within three to five years. According to Lim Beng Chee, Chief Executive of CMA, this year marks a significant change for the firm as the number of their operational malls will increase. By the end of March, CMA had already
read the rest…

by Cheryl Tay Demand and prices for industrial properties have increased in the last two years, following the robust economic growth since the US recovered from the 2008 financial crisis. According to URA data, industrial property prices rose by 7.2 percent quarter-on-quarter in Q1 2012. High industrial prices have been attributed to low-interest rates as well as
read the rest…

by Cheryl Tay Marina Bay could become busier than Raffles Place, as more financial and insurance firms are expected to occupy newly completed buildings within the area. However, Marina Bay’s 2.6 million sq ft of absolute space occupied by financial and insurance companies still pales in comparison to over four million sq ft in Raffles Place, according
read the rest…

Colliers International will put up 66 strata-titled office units at Burlington Square (pictured) for sale via expression of interest (EOI) on 18 April at 12 PM. The mixed development, which sits on a 99-year leasehold site at 175A Bencoolen Street, comprises a 20-storey residential block, a retail podium and a 12-storey office tower with parking
read the rest…

100 AM (pictured), the first fully-fledged mall at Tanjong Pagar by Amara Holdings, has secured a 70 percent occupancy rate ahead of its mid-2012 completion date. “We are confident that this new mall will be a strong pull for shoppers and residents with strong purchasing power as well as professionals and office workers living and
read the rest…

Average monthly gross rents for Grade A office space in Singapore’s central business district (CBD) declined for the first time in Q4 2011 since the market bottomed out in Q4 2009, according to Colliers International. The property consultancy noted that office rents dropped slightly by 1.6 percent quarter-on-quarter in Q4 to S$8.93 psf per month,
read the rest…

Frasers Commercial Trust (FCOT) posted a distribution per unit (DPU) of 1.51 cents in the first quarter ended 31 December 2011, up 21 percent year-on-year after factoring in the consolidation of every unit held by unitholders. Meanwhile, distributable income to unitholders rose 22 percent to S$9.6 million, while total distributable income to both CPPU holders
read the rest…

CapitaRetail China Trust (CRCT) has announced that distribution per unit (DPU) in the fourth quarter 2011 climbed 10.1 percent to 2.28 cents, while DPU for the year hit 8.70 cents, up 4.1 percent from a year ago. “We are pleased to deliver a set of strong financial results with our nine income-producing malls operating at
read the rest…