Daily Archives: 8 Aug 2009

Kebun Bahru station? Where’s that?

Posted on 8 Aug 2009 | Comments Off on Kebun Bahru station? Where’s that?

THE proximity of MRT stations to new housing projects has long been a selling point when developments are launched, and it is common to find condominium advertisements displaying ‘nearby’ train stations.

But a couple of developers have taken the sales pitch one step further: by pinpointing the sites of MRT stations which have not been confirmed.

In UOL Developments’ recent advertisement for Meadows@Pierce, a freehold condominium project in Upper Thomson Road expected to be ready around 2012, the developer ran a map showing station sites of the future Thomson Line, which will only be completed in 2018.

These include ‘Springleaf’, ‘Kebun Bahru’, ‘Venus Drive’ and ‘Sin Ming’ stations. Continue reading →

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Posted in New Launches, Property Market / Real Estate

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MI-Reit Q1 DPU drops 36% to 1.51cents on higher loan costs

Posted on 8 Aug 2009 | Comments Off on MI-Reit Q1 DPU drops 36% to 1.51cents on higher loan costs

MACARTHURCOOK Industrial Reit (MI-Reit) has announced a distribution per unit (DPU) of 1.51 cents for its first quarter ended June 30, down 36 per cent from a year ago.

Higher borrowing cost was one factor for the fall. Borrowing costs were higher because of the increase in interest margins and facility fees when the repayment date of the Reit’s Singapore term loan facility was extended to Dec 31, 2009 during the quarter.

Net property income for Q1 was $9.3 million, 3.2 per cent higher year-on-year, as the portfolio’s high occupancy was maintained.

The Reit said organic rental growth was supported by built-in rental escalations staggered throughout the leases Continue reading →

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Posted in Funds

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