Singapore Real Estate

Archive for October, 2007

S’pore A-Reit’s Q2 income for distribution up 15% at $46.4m

Friday, October 19th, 2007

S’pore A-Reit’s Q2 income for distribution up 15% at $46.4m

By UMA SHANKARI
ASCENDAS Real Estate Investment Trust (A-Reit) said yesterday its second-quarter distributable income rose 15 per cent to $46.4 million, from $40.5 million a year earlier, as demand for the trust’s business space grew.

The better performance lifted A-Reit’s distribution per unit (DPU) to 3.51 cents, up 11 per cent from 3.16 cents paid for the previous corresponding period.

Net property income for Q2 ended Sept 30, 2007 increased 16 per cent to $60.1 million, from $51.9 million a year earlier.

Sotheby’s enters Singapore market

Tuesday, October 16th, 2007

Sotheby’s International Realty has set up a franchise in Singapore, attracted by the growing stream of foreign buyers seeking a home in the red-hot property market. Singapore Sotheby’s International Realty, which has an office in Palais Renaissance on Orchard Road, is part of the expanding global network of Sotheby’s International Realty Affiliates LLC.

Sotheby’s International Realty is owned by US-based Realogy, the world’s leading franchisor of real estate brokerages, and the brand is offered via an exclusive 25-year master franchise. It was recently secured by JVC Capital, a firm controlled by investors including seasoned property investor, Dr Goh Seng Heng.

“Singapore is an important market for our international growth plans,” said Michael R. Good, President and CEO of Sotheby’s International Realty Affiliates LLC. “Dr Goh Seng Heng, the firm’s owner, shares our brand’s core values and commitment to providing the highest levels of service.”