Real Estate Daily News
08th August 2019
Singapore Real Estate
SingHaiyi's Parc Clematis condo to open for booking on Aug 31
Property developer SingHaiyi Group's 99-year leasehold Parc Clematis will be open for booking on Aug 31. The public preview will be held on Saturday, Aug 17. Located at the former Park West residential site, the development consists of 1,468 units including 18 landed homes, and is said to be the developer's largest project to date.
CDL posts 26% slide in Q2 earnings to S$162.4m
Property and hotels group City Developments Limited (CDL) on Thursday posted a 26.4 per cent drop in group net profit to S$162.4 million for its fiscal second-quarter ended June 30, down from a restated net profit of S$220.7 million for the year-ago period. This translated to earnings per share (EPS) of 17.2 Singapore cents for the quarter, versus 23.6 Singapore cents in the preceding year.
CapitaLand banks on divestment discipline to pounce on good opportunities
Crisis is also a time of opportunity and property giant CapitaLand, which completed its acquisition of Ascendas-Singbridge (ASB) in late-June, is making sure it is well prepared and agile to pounce on any good opportunities amid the current uncertain business climate. Its disciplined approach to divesting and deleveraging will create the headroom it may need to seize these opportunities, the group's top brass…
SPH takes 20% stake in Prime US Reit manager
Singapore Press Holdings (SPH) on Tuesday completed its acquisition of a 20 per cent interest in KBS US Prime Property Management, which manages newly listed Prime US Reit. SPH, which publishes The Business Times, announced on June 28 that its wholly-owned subsidiary Times Properties signed a call option agreement to acquire the stake in the Reit manager from KBS Asia Partners.
OUE C-Reit posts 34.5% rise in Q2 DPU to 0.78 S cent
OUE Commercial Reit (OUE C-Reit) on Wednesday posted second-quarter distribution per unit (DPU) of 0.78 Singapore cent, up 34.5 per cent from a restated DPU of 0.58 cent in the same period a year earlier. The restatement adjusts for the dilutive effects of a 83-for-100 rights issue done in October last year.
Perennial's profit dives on higher costs, lack of fair value gain
Higher finance costs and the absence of a fair value gain took a toll on results for real estate developer Perennial Real Estate Holdings for its fiscal second quarter ended June 30. Net profit plunged 74.9 per cent to S$2.2 million, from S$8.6 million a year ago, mainly due to higher net finance cost attributed to higher interest rates and additional loans to fund new investments.
Cromwell E-Reit posts flat DPU of 1.02 euro cents for Q2
Cromwell European Real Estate Investment Trust (Cromwell E-Reit) on Thursday morning posted a distribution per unit (DPU) of 1.02 euro cents for its second quarter ended June 30, the same as a year ago. Net property income (NPI) climbed 33.6 per cent to 27.7 million euros (S$43.0 million) from the previous corresponding period, while gross revenue was also up by one-third to 42.4 million euros from 31.8…
Global Economy & Global Real Estate
UK house prices show surprise drop in July
China builders weaken debt safeguards as buyers chase yield
HSBC launches overseas mortgages, starting with Australia
Thailand, New Zealand and India surprise with rate cuts
Saudi push to boost mortgage lending puts the squeeze on home buyers
Housing rebound helps drive Canadian consumer sentiment higher
Toronto home sales soar in July amid housing supply crunch
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