Commercial Property
Commercial property investment volumes in AsiaPac surge 10% in 3Q11
Commercial property investment volumes in AsiaPac surge 10% in 3Q11
Volumes have reached an amazing US$ 67b year to date, according to Jones Lang LaSalle.
Grade A office rents may plummet 18-22% in 2012
Rents are expected to drop to S$8.50-9psf, as the country’s employment and GDP growth is on the decline.
CapitaCommercial Trust shaken by lower rental income
Now it has less distributable income to share, down to S$51.9m in the third quarter from S$56.2m in the same period last year.
Boustead subsidiary secures S$19mn deal with Greenpac
Boustead has $116mn of industrial real estate contracts secured since start of FY2012 in April.
Resilient rents drive Mapletree Logistics Trust’s growth in 3Q11
MLT shared that it has already secured a majority of the leases that are up for renewal in 3Q11.
City Developments to benefit from income ceiling hike
Well it still has 700 unsold EC units from Blossom Residences, so it figures.
City Developments acquires 30% stake in Millenium & Copthorne’s Ginza project
M&C owns the remaining 70% stake, allowing it to gain a strategic foothold in Tokyo’s most famous shopping, dining and entertainment district.
Slumping demand for office space sees industrial rents stagnate in 3Q11
No change in average industrial rental prices at $3.45 psf/month.
Dow Jones Sustainability Indexes selects City Developments as index component
CDL is the only Singapore developer to be selected by the global sustainability benchmark.
URA launches tender for Soon Lee Street site
The 19,618.7 sqm land parcel, with a lease period of 30 years, is to be developed for Business 2 uses.
CBD prime office rents stagnant in 3Q11
Average gross rent of office space in Raffles Place was flat at $9.80 psf/month in Q3 2011, after rebounding by 25.6% in Q1 2010.
Prime housing rents fall for first time in nearly 4 years
Housing rents in prime areas have dropped for the first time in nearly four years, as uncertainty in the global economy meant fewer executives are...
URA launches tender for Jalan Bukit Merah / Alexandra Road site
The 7,946.2 sqm hotel site will have a minimum bid of $98m.
Playing safe: 77% of Asian investors won’t risk buying properties
And more than 75% of the investors said they aim for a 15% internal rate of returns or higher for investments.
Prime Orchard Road rents register biggest increase since 2007
It has risen five percent from the second quarter of 2011 to average $31.60 psf/ month.
Property investment deals slump 55% in Q3 2011
Investors are more cautious as real estate investment sales were only $4 billion in Q3 2011, the lowest level since Q1 2010.
Ascendas REIT acquires business park within the Haidian district in Beijing
The property was acquired from a related party of its sponsor, the Ascendas China Industrial and Business Park Fund, for RMB 300m.
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