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Higher DPU in Q4 for Mapletree Commercial Trust

Mapletree Commercial Trust (MCT) delivered a higher distribution per unit (DPU) in the fourth quarter, as the stronger performance at VivoCity mall and some office assets boosted turnover and earnings. DPU for the three months to March 31 rose 1 per cent to 2.02 cents, up from two cents in the same period last year, said trust manager Mapletree Commercial Trust Management yesterday. Net property income came in at $55 million in the fourth quarter, up 3.5 per cent, while gross revenue climbed 2.8 ...more

Heeton, KSH, Lian Beng venture buys 5th property in Britain

Singapore A TRIO of mainboard-listed developers - Heeton Holdings, KSH Holdings and Lian Beng Group - have once again acquired hotel property in the United Kingdom. In a joint Singapore Exchange filing on Monday, the trio said that they acquired a hotel in Manchester through their joint venture company, Prospere Hotels, which Heeton, KSH and Lian Beng have a 30, 30 and 40 per cent stake in, respectively. The financial details of the deal were not disclosed. This is the trio's fifth joint propert ...more

100 AM mall in Tanjong Pagar to be new home for Parco

Singapore AMARA Holdings' shopping mall in Tanjong Pagar, 100 AM, will soon be home to Parco, after the group inked a lease agreement with the Singapore subsidiary of the Japanese department store operator. Parco (Singapore) Pte Ltd agreed to take up some 14,000 square feet of food and beverage (F&B) space at the mall. It plans to open a new restaurant zone named itadakimasu by Parco, housing a variety of Japanese cuisines, in the last quarter of 2016. An Amara spokeswoman said that the company ...more

Developers unfazed by Kuala Lumpur's office space glut

Kuala Lumpur ONE-FIFTH of office space in Kuala Lumpur is unoccupied but developers appear unfazed as they continue to roll out large developments. According to the Napic (National Property Information Centre) Property Report 2015 released last week, of the purpose-built commercial space amounting to 7.75 million square metres as at the fourth quarter of last year, 1.56 million sq m remained available. Property consultants warn of a large overhang in commercial space. Savills Research pointed ou ...more

Mapletree Industrial Trust's DPU rises 6% for Q4

Singapore MAPLETREE Industrial Trust (MIT) on Monday posted a 6 per cent increase to its distribution per unit to 2.81 Singapore cents for its fourth quarter ended March 31, 2016. This was up from 2.65 cents a year ago. Gross revenue rose 5.8 per cent to to S$84 million, boosted by higher rental rates across its property segments, as well as contribution from the build-to-suit project for Equinix Singapore at 26A Ayer Rajah Crescent. Net property income rose 7.4 per cent to S$62 million. Distrib ...more

Q1 deals may signal market for Good Class Bungalows looking up

Singapore THE Good Class Bungalow (GCB) market may be headed for a pick-up in transaction volumes this year, if the results for the first quarter are anything to go by. A mix of lower price expectations by owners and pent-up demand for the limited-supply, prestigious landed housing form has helped to narrow the price gap. The result is that more deals were sealed in Q1 than in the previous quarter and in the year-ago quarter - notwithstanding the current weak economy and the stockmarket volatili ...more

Architects also hurting from real estate woes

THE real estate downturn has filtered down to architecture and engineering services firms, which were hit by surging redundancies last year - and industry players warn that the situation could worsen this year. It has been the larger architecture firms where rumours of retrenchment are most rife, though no firm has been willing to confirm this. Last year's official jobs data is telling. Based on the Ministry of Manpower's labour report for 2015, the number of redundancies in the architecture and ...more

Venturing out and up the value chain for steady earnings

Trapped in an endless cycle of competitive tenders, Memiontec took the plunge and revamped its business model, diversifying to move up the value chain. Fiona Liaw discovers how the move helped the firm break new ground. After more than two decades of expansion for water engineering system firm Memiontec, chief executive officer Tay Kiat Seng realised that the endless cycle of tendering for projects was unpredictable and unsustainable. We were not happy with the performance, so we had to think ou ...more