Tag Archives: Real estate

Jones Lang acquires Credo Real Estate

Posted on 26 Jul 2012 | Comments Off on Jones Lang acquires Credo Real Estate

Property consultancy Jones Lang LaSalle (JLL) today announced its acquisition of property advisory firm Credo Real Estate.

Karamjit Singh, Credo’s Managing Director, said he hopes the move will help his company increase market share both locally and overseas.

“The key driver behind this deal was the culture and values that we share with Credo; we are a people business and our success is based around skills and relationships,” added Chris Fossick, Managing Director of JLL Singapore and South East Asia.

“The coming together of Credo Real Estate and Jones Lang LaSalle strengthens our already strong and established teams, by providing us with even greater talent and the ability to successfully serve our clients,” he noted.

Moving forward, Singh will head the Singapore Capital Markets and Collective Sales teams and will be responsible for JLL’s Singapore residential sales.

The integration of the business lines and teams, along with a full rebranding of all business activities is expected to start on 1 September 2012.

Source PropertyGuru – 2012 Jul 26

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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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