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August Property Market Review

[August - 1 - 2019] Crane Capital, which is reported backed up by the Washington State Investment Board is reported buying a building in Hong Kong for HKD420 million, local media reported

[August - 1 - 2019] Ascendas Hospitality Trust, which sold two Beijing hotels last year as it exited the Chinese market, will pay a lower distribution per stapled security (DPS) in the first quarter after the absence of one-off proceeds from the sale. Investors will get a DPS of SGD1.28 Singapore cents for the three months to June 30, down by 5.2%

[August - 1 - 2019]A unit of Germany’s Commerzbank sold an office tower in Singapore’s central business district Tanjong Pagar area to local real estate investment house Sun Venture for SGD655 million, according to an announcement this week by the property investment arm of the Frankfurt-based institution. Some eleven years it purchased the 13-storey office tower for SGD744 million (now SGD 542.79million)

[August - 7- 2019] CapitaLand Q2 profit falls 4.2% on one-off costs from Ascendas-Singbridge acquisition. Asia's biggest property firm drop in net profit to SGD579.8 million for its second quarter, from SGD 605.5 million a year ago. This was mainly attributed to one-off transactions costs incurred on the acquisition of Ascendas-Singbridge, which was completed on June 28.

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