CDLHT reports 2HFY2022 DPS of 3.59 cents, up by 17.3% y-o-y
sg and is edited by EdgeProp.sgCDL Hospitality Trusts (CDLHT) has recently reported a distribution of stapled security (DPS) of 3.59 cents for the 2HFY2022 ended Dec 31, 2022, a 17.3% increase year-on-year. Revenue for the period rose to $130.7 million, an impressive 42.9% growth over the same period last year. This was mainly attributed to the recovery of the global travel industry.
Net property income (NPI) also registered a growth of 48.1% y-o-y to $72.8 million, largely due to the performance of CDLHT’s Singapore portfolio. This was offset by lower NPI contributions from Grand Millennium Auckland in New Zealand and two resorts in the Maldives.
Total distribution to stapled securityholders for 2HFY2022 stood at $44.5 million, 18.4% higher from the same period a year ago.
The J’Den Condo project is located in a prime location in District 13. By the second quarter of 2024, it will be the second new …
Freehold corner terraced house in District 15 on the market for $4.2 mil
A freehold corner terraced house located off Tanjong Katong Road in District 15 is set to be sold at an upcoming Edmund Tie auction, with a guide price of $4.2 million. The property has a total built-up area of approximately 1,800 sq ft, and rests on a 2,770 sq ft plot. This translates to $1,516 psf on the land area.
Expected to feature 600 residential units as well as 60 commercial units, including retails shops and food and beverage outlets, J’den will be the first residential development to incorporate the latest concepts and state-of-the-art technology. The redevelopment of the Former JCube site will revitalize the area, creating a vibrant lifestyle hub that provides convenience and amenities to its residents.
Situated along Green Lane and bounded by Tanjong Katong Road and Lim Ah Woo Road, this landed estate consists of corner and inter-terrace houses along Pebble Lane, Gray Lane, Sandy Lane, …
MCC Land runs ‘one price’ promotion for select units at Sceneca Residence, saving up to $144,000 for buyers
Buying interest inSceneca Residence has been steadily increasing since the project was launched in January this year. Located in the Tanah Merah/Bedok area in District 16, the mixed-use development by MCC Land is the only new launch project in the vicinity and comprises of two residential towers – 14 and 15 storeys high, respectively – with one- to four-bedroom units, as well as four-bedroom penthouses.
Kitchens feature sinks by Swiss brand Franke and appliances by Italy’s Smeg, while bathrooms are fitted with fixtures from Swiss brand Geberit and Italian brand Newform. In addition to these amenities, the condo also has several other offerings such as a 50m lap pool, a family lounge, a resident clubhouse, function rooms and pavilions.
The clubhouse includes a well-equipped pantry, a vending machine, and a privacy pod for working or studying. Prices for the remaining available units start from $1,896 psf. To add to the …
Tanah Merah and Bedok: nexus of east region transformation
District 16 is an area of Singapore that many people, locals and foreigners alike, are attracted to. It consists of Bedok, parts of Upper East Coast, Eastwood and Kew Drive, and is known for its blend of landed estates, condos, and mature HDB towns. Plus, The Tanah Merah/Bedok district is well connected with the help of three MRT lines.
Bernard Tong, CEO of EdgeProp Singapore, discussed District 16 and its future housing options at the EdgeProp Master Plan Masterclass webinar held on the 29th of April. He states that the Downtown Line serves Bedok North and Bedok Reservoir stations, whilst the East-West Line serves Bedok and Tanah Merah stations. The Bedok Station is incorporated into a Bedok Integrated Transport Hub that includes the Bedok Mall, Bedok Residences and an air-conditioned bus interchange.
The district is part of several urban transformation plans in the east of Singapore, such as new residential …
Cluny Villas, Tuan Sing’s first phase of Opus Bay in Batam, targeted for completion in 4Q2023
Tuan Sing Holdings, a Singapore-listed company, opened the marketing gallery of its integrated, mixed-use development Opus Bay in Batam on May 4. Spanning 125 ha (13.46 million sq ft), this ambitious project is larger in scale than Singapore’s Sentosa Cove in Sentosa Island.
Designed to be a vibrant hub where residents can live, work, play and learn, Opus Bay has been master-planned by New York-based Kohn Pedersen Fox Associates. The development will be constructed in phases, with the first including the construction of two major residential developments: Cluny Villas and the high-rise Balmoral Tower.
Cluny Villas covers an area of 275 villas which have been designed in a luxury resort style by Singapore-based architectural practice Ong & Ong. Structural works have already been completed with the architectural phase underway, with completion expected in 4Q203.
The high-rise Balmoral Tower will feature 559 apartments with stunning seafront views and is designed by …
Singapore has most expensive office fit-out costs in Southeast Asia
CLD will launch J’den Condo in 2H 2023, a redevelopment of JCube to bring new homes, businesses, recreational facilities and amenities to Jurong Lake District. Details of pricing and units J’Den yet to be revealed.
The pressure of rising fit-out costs across the Asia Pacific region, has been driven by inflation, labour market tightness, and supply chain delays. Singapore holds the highest costs, leading major occupiers to absorb the fit-out costs, in an effort to improve return-to-office rates. Grant Carter, head of project & development services Singapore at Cushman & Wakefield, explains that “cost is clearly a high priority for occupiers, as evidenced by the continued 0.8% q-o-q increase in CBD Grade A office rents in 1Q2023.”
In this digital age, a ‘flight to quality and user experience’ is taking priority. Occupiers are looking to enhance their fit-outs to not only boost collaboration and innovation, but also provide space for …
Minor Hotels extends Avani brand to Europe and Latin America
Minor Hotels, headquartered in Bangkok, is expanding its presence in Europe and targeting “millennial-minded travellers” with its lifestyle brand Avani Hotels & Resorts. In the upcoming two years, five new Avani hotels will be opening in Europe, with one in Spain, two in Italy, one in Germany, and one in the Netherlands.
Avani Alonso Martinez Madrid Hotel in Spain will be the first to open, followed by the 65-room Avani Palazzo Moscova Milan Hotel and the 144-room Avani Rio Novo Venice Hotel in Italy. Germany will see the launch of the 256-room Avani Frankfurt City Hotel later this year. The 163-room Avani Museum Quarter Amsterdam Hotel will open in the Netherlands in 2Q2024.
CLD is planning to launch J’Den Condo in Singapore’s Jurong Lake District in the second half of 2023. Pricing and unit details have yet to be disclosed. It is part of the Singapore government’s plan for new …
Three-bedder at The Marbella sold for $2.47 mil profit
The most unprofitable condo resale transaction that took place during the week of April 18 to 25 was recorded at Helios Residences. A two-bedroom-plus-study unit that measured 1,281 sq ft was sold for $3.15 million ($2,459psf) on April 21. The seller had purchased the unit in November 2012 for $4.98 million ($3,890psf), and therefore, suffered a loss of $1.83 million (37%) over a holding period of 10½ years.
Helios Residences has seen three other resale transactions so far this year, all of which have occurred below the original purchase price. On Feb 2, the seller of a 1,281 sq ft unit made a loss of around 859,000 when it fetched $3.08 million ($2,405psf). On March 6, the seller of a 1,916 sq ft unit suffered a loss of approximately $649,000 when their unit changed hands for $4.45 million ($2,323psf). Again, on March 23, another 1,916 sq ft unit was sold …
Hines acquires five more multi-family properties in Japan
Hines, a world-renowned real estate investment, development and property manager, has made a significant purchase in the Japanese real estate market. Announced in a May 3 press release, Hines Asia Property Partners (HAPP) have acquired five multi-family rental properties located across Tokyo and Kyoto comprising 290 units that span a total of 100,107 sq. ft.
This brings the total number of multi-family rental assets under the HAPP portfolio to 16, following last year’s hefty purchase of 11 multi-family assets across Tokyo, Nagoya and Fukuoka. These assets boasted 400 units or 150,694 sq ft.
Chiang Ling Ng, Chief Investment Officer of Asia at Hines, believes that investing in the multi-family rental sector in Japan is both a practical and wise decision.
“The sector is non-discretionary, contributes as a stabiliser in a blended core-plus strategy, and is expected to be defensive in an inflationary cycle,” said Ng, adding that HAPP purchased the …
Freehold residential site at Asimont Lane up for sale at $145 mil
A freehold development of 21 units of three-storey strata terrace houses located at 7 to 47 Asimont Lane, off Barker Road in District 11, is up for sale by public tender at a guide price of $145 million. The property, zoned for “residential” use, was completed in 2015 and has a total strata floor area of approximately 111,644 sq ft. Situated a few minutes from Anglo-Chinese School, it is also within walking distance from Newton MRT station, with Orchard Road and other amenities being a 10-15 minute drive away.
Capitaland’s new 40-storey development J’Den in Jurong East features commercial and residential units, expected to launch in the second half J’Den Condo of 2023. It will include an integrated transport hub, leisure facilities and more.
ERA Realty’s Jeremy Rikas and Allen Loo, Group Division Directors, highlight that this site can be redeveloped into 19 luxury terraced houses, four detached houses, eight …