Residential sector leads Singapore investment sales

Posted on 25 Jul 2012 | Comments Off on Residential sector leads Singapore investment sales

The residential market in Singapore dominated investment sales, contributing 54 percent of total transactions in Q2 2012, according to a report by Savills Research.

As for total investment sales, the consultancy said it grew 52.4 percent from S$4.9 billion in Q1 to S$7.4 billion in Q2.

The public sector accounted for 41.7 percent of all investment sales at S$3.1 billion.

Under the Government Land Sales (GLS) Programme, a total of S$2.9 billion sales were recorded with 15 state land parcels sold.

Meanwhile, investment sales in the private sector bounced back with transaction values climbing 59.9 percent quarter-on-quarter.

“Transaction volume in the commercial segment boosted 123.7 percent quarter-on-quarter to S$2.3 billion,” added the report.

“In the near term, the investment market may hit a plateau given the worsening macro conditions and a squeeze on buyers’ financing.”

Source PropertyGuru – 2012 Jul 25

 

 

 

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Ascendas India Trust DPU down 20% in Q1

Posted on 24 Jul 2012 | Comments Off on Ascendas India Trust DPU down 20% in Q1

Ascendas India Trust has reported a 20 per cent drop in its distribution per unit to 1.20 Singapore cents for the first quarter ended June.

This was mainly due to a weaker rupee which helped to reduce the trust’s distributable income by 19 per cent to S$9.2 million.

In the past year, the Singapore dollar has risen 20 per cent against the Indian rupee.

Still, the trust’s total property income rose by 3 per cent to S$32 million in the latest three-month period, while net property income increased 1 per cent to S$17.8 million.

“The underlying portfolio performance remained strong, but we continue to face macro headwinds in the form of unfavourable currency movements,” Jonathan Yap, CEO of the Trustee-Manager, said in a statement.

The trust owns IT business parks in India and is constructing a new 600,000 square foot multi-tenanted building in International Tech Park Bangalore to tap the growing out-sourcing market.

The trust is also on the lookout for attractive acquisition opportunities, its statement said.

Source : Channel NewsAsia – 24 Jul 2012

 

 

 

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