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Ho Bee Land acquires office building in London for �144m

 
Singapore PROPERTY group Ho Bee Land Limited announced on Wednesday it has acquired a freehold office building in London for �144 million (S$308 million) from UK firm British Land. Located at 39 Victoria Street, it marks Ho Bee's fourth commercial property in London and fifth overall in the UK capital; the group also owns a residential building at Parliament View. The acquisition is a move to grow (Ho Bee's) recurring income, Desmond Woon Choon Leng, executive director of the mainboard-listed ...more
 

Tuan Sing's Q2 profit surges on strong property, hotel segments

 
Singapore TUAN Sing Holdings reported a 92 per cent surge in net profit for the second quarter ended June 30 to S$22.3 million, buoyed by a higher contribution from property and hotel investment segments. Its revenue more than doubled to S$194.1 million in Q2 2015, from S$81.6 million in the same period last year. For the first half of the year, net profit surged 98 per cent to S$38.2 million as revenue more than doubled to S$349.4 million from S$142.9 million in the same period last year. Reven ...more
 

CDL Hospitality's net property income rises

 
The acquisition of Japan Hotels in December has boosted second-quarter earnings at CDL Hospitality Trusts but the distribution to investors slipped. Distribution per stapled security for the period ended June 30 fell 10 per cent to 2.25 cents, as the contribution from Japan Hotels will be available for distribution only from the fourth quarter. Net property income for the quarter rose 0.9 per cent to $31.62 million as gross revenue rose 3 per cent to $39 million. The results were dragged down by ...more
 

Lian Beng posts record results, boosted by fair-value gain

 
Singapore LIAN Beng Group posted record net profit and revenue for the full year ended May 31, 2015, boosted by a higher fair-value gain on investment properties and profits from its construction and dormitory segments. The group's net profit jumped 24 per cent to S$108 million and revenue rose 9.4 per cent to S$747 million. The results were boosted by a 40.6 per cent increase in fair-value gain on investment properties to S$52.4 million and a surge in the group's share of results from associate ...more
 

Sing Holdings' Q2 profit surges

 
Singapore PROPERTY development and investment group Sing Holdings on Tuesday reported a 590.5 per cent leap in net profit for the second quarter ended June 30, 2015. Net profit soared to S$2.244 million from S$325,000 a year ago, on the back of higher revenue recognition from the group's development project. Revenue for the second quarter increased by 482.5 per cent to S$25.3 million from S$4.35 million a year ago, due to progressive recognition of proceeds from the sale of units in Robin Reside ...more
 

Thong Sia Building sold for S$380m

 
Singapore A DEAL is understood to have been inked for the collective sale of Thong Sia Building along Bideford Road for about S$380 million. The buyer of the 26-storey freehold property is believed to be Sin Capital Partners. The en bloc sale has secured approval from owners controlling more than 80 per cent of share values and strata area in the mixed development. However, as unanimous approval from owners has not been secured, the transaction will be subject to approval from the Strata Titles ...more
 

BCA leads push to make building design more user-friendly

 
Singapore DESIGNING buildings goes beyond turning out good-looking developments; they have to be functional for those who use them. Since 2012, the Building and Construction Authority (BCA) has handed out the Universal Design (UD) Mark certification to nearly 90 developments which have incorporated user-friendly features. It just got tougher to qualify for this certification, as the criteria used to evaluate the implementation of UD features have been tightened. To encourage building developers ...more
 

Ascott Reit gets Q2 boost from Japan assets

 
Income from new acquisitions and robust returns from Japan boosted Ascott Residence Trust (Ascott Reit) in the second quarter, but declining turnover from existing properties took off some of the shine. Revenue still rose from $88.1 million last year to $98.7 million in the three months to June 30, an increase of 12 per cent. Total distributable income came in at $32.3 million, down 4 per cent, while distribution per unit stood at 2.09 cents, down 5 per cent on last year. Revenue also rose 12 pe ...more
 
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