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January Property Market Review

[January - 29- 2019] Mapletree North Asia Commercial Trust on Friday posted a 3.2 per cent rise in distribution per unit (DPU) for its fiscal third quarter, lifted by higher distributable income. DPU for the three months ended Dec 31, 2008 stood at 1.927 Singapore cents, up from 1.868 Singapore cents in the same period a year ago. Its distributable income for the fiscal third quarter rose 15.9 per cent to S$61 million, driven by acquisition of properties in Japan and higher contribution from existing properties

[January - 7- 2019] CapitaLand in 50:50 venture to buy 70% of Shanghai's Pufa Tower for SGD546.3m as seed asset for new fund it is setting up "to invest in commercial real estate in key gateway cities in Asia, the company on Monday morning (Jan 7). The acquisition will immediately contribute to the group's recurring income

[January - 12 - 2019] Ascott Reit sells Raffles Place property fto private investor Cheong Sim Lam, whose family developed International Plaza and the Hyatt Regency Singapore, Ascott Raffles Place Singapore for SGD353.3 million. The sale price is some 64.3 % above the property's latest valuation of SGD 215 million as at Dec 31 2018. After accounting for transaction related expenses, Ascott Reit is expected to realise an estimated net gain of SGD134 million.

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