Brookfield Property Partners LP appointed JLL and Cushman & Wakefield to oversee its divestment of a 50% stake in an A$800 million office development planned at Elizabeth Quay precinct in Perth, Australia, The Australian reported. The market-bound 30-story project that will span 52,000 square...
The long awaited Woodleigh Residences by SPH and Kajima finally opened its doors for preview over the weekend. There was a steady stream of visitors to the showflat while we were there. Although there was no queue at the show units, it wasn’t easy trying to get an ‘unblocked’ picture (because...
GuocoLand's Beach Road integrated project adds to area's revamp Business Times, 26 November 2018 GuocoLand announced on Sun the groundbreaking of its integrated project on Beach Road - a project which, when completed in mid-2022, will add to the rejuvenation of the nearly 2 km stretch of road. Guoco Midtown will...
2Q results highlights PREH reported a 2Q18 EBIT of S$41.9m, -26.5% yoy, on a 1.6% improvement in revenue to S$18.1m. Stripping out revaluations and other one-off gains, EBIT would have been marginally higher yoy. Net profit fell a greater 49.5% yoy to S$8.6m, eroded by lower EBIT and higher finance...
Capitaland Commercial Trust (CCT) has announced the completion of the divestment of Twenty Anson. The sale was originally announced on 29 June 2018, with CCT mentioning the sale consideration of S$516 million or S$2,503 per sqft based on the building's net lettable area. On the divestment, Mr Kevn Chee, CEO of...
FPL’s 3QFY18 core PATMI of S$157m (-13% YoY) came in above estimates, due to faster-than-expected recognition of development profits in Singapore. Net gearing improved 6%pts QoQ but remains high at 89% and suggests that more properties are likely to be injected into its listed S-REITs. Also read: Parc Esta new launch...
According to PERE, JPMorgan Asset Management will be welcoming foreign investors for the first time in its flagship real estate fund, the JP Morgan Strategic Property Fund (SPF). SPF currently has a net asset value of approximately $33b and gross asset value of approximately $43b. (adsbygoogle...
Citi’s Take – We provide key investors’ feedback on CapitaLand’s acquisition of Ascendas-Singbridge (ASB) from its attendance at Citi’s 24th Annual Global Property CEO Conference in Miami last week, as well as our marketing in Europe, Hong Kong, Malaysia, Singapore, Thailand and US following the publication of...
Capitaland released a respectable set of results for 2Q2018. The following are excerpts from various equity research houses on the company's performance. CapitaLand reported 2Q18 net profits of S$605.5m, EPS of 14.4cts, +5.1% YoY. Core net profit of S$196.0m (-5.6% YoY) was below our expectation of S$226m, due mainly to...
Frasers Property closes €285M European deal for 22-asset portfolio Frasers Property Ltd. completed the acquisition of a 94% stake in AI Gewerbepark Tamm GmbH, marking the closing of a €285.2 million deal signed in February for a portfolio of properties in Germany and Austria. The first phase of the acquisition closed...
Singapore’s 3Q18 GDP grew at a slower 2.2% pace, below economists’ expectations of 2.4%, as the manufacturing and services sectors disappointed. The growth figure was also revised downwards from advance estimates of 2.6% and was lower than the 4.1% growth in 2Q18. Manufacturing grew 3.5% in 3Q18, moderating from 10.7%...
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