CapitaLand Ascendas REIT divests local industrial building at 219% premium from 2005 purchase price

Uncategorized

CLAR manager has decided to divest the KA Place property in Singapore at a 219% premium to its purchase price of $11.1 million in 2005. For a consideration of $35.38 million, HSBC Institutional Trust Services (Singapore) has entered into a sale and purchase agreement with KA Place SPV 1.The seven-storey high-specification industrial building offers 10,163 sq m in total gross floor area and a remaining land lease tenure of approximately 35 years. According to the manager, the divestment is in line with the REIT’s active asset management policy and is meant to improve its portfolio and optimise returns for unitholders.

If the divestment is completed on Jan 1, 2022, the pro-forma impact on the REIT’s net property income and distribution per unit would be a reduction of $0.92 million and 0.005 Singapore cents respectively. The net proceeds are estimated to be $30.65 million, which could be used to fund committed …

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Ascott targets to double fee revenue to over $500 mil in next five years

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The Ascott Limited, the lodging business unit of CapitaLand Investment, has set an ambitious target to double its fee revenue to over $500 million from its FY2022 base of $258 million in the next five years. This is its highest recorded earnings yet, bolstered by 36% year-on-year growth in FY 2022, a result of record-breaking property openings and signings.

The company has achieved its goal of securing 160,000 units by 2023. In 1QFY 2023, it signed up to 4,000 additional ones.

Ascott will continue to expand its portfolio offerings, ranging from serviced residence, hotel, co-living as well as senior living brand and positioning, while aiming for an annual net room growth rate of 8%-10% within the next five years. These plans, coupled with the company’s asset-light strategy, will lead to strengthening fee growth and drive the company to the fore.

According to Kevin Goh, CEO of CLI Lodging and Ascott, …

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URA Master Plan Benefits Altura EC Bukit Batok Residents As More Live Work and Play Lifestyle

Property News

The URA Master Plan seeks to further drive economic progress in Singapore through the development of business hubs and industrial parks. By transforming the Altura EC Bukit Batok region, new businesses and industries can be attracted, generating employment opportunities for Bukit Batok inhabitants. This would help promote a balanced live-work-play lifestyle as well as reduce the requirement for distant commutes to places of work. It will also help to facilitate smoother and more efficient movement of goods and services.

The URA Master Plan emphasises the significance of strengthening interconnectivity within and across various neighbourhoods, and Altura EC may benefit from this with the construction of new roads, provision of enhanced public transportation amenities, and improved pedestrian and cycling access. With such developments, residents of Altura EC will be able to enjoy greater ease of movement within the local area and travel to other parts of Singapore more readily. In addition, …

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A Review of Qingjian Realty Real Estate Developer

Real Estate

Qingjian Realty is a real estate developer based in Singapore that specializes in building quality homes. They have been in the business for more than 10 years and have developed some of the most iconic residential and commercial projects in the country. From luxurious condominiums to affordable housing projects, Qingjian Realty has continually pushed the boundaries of excellence in real estate development.

The company has a strong commitment to quality, sustainability, and innovation. All of their projects are designed to meet the highest standards of quality and safety, while also being environmentally friendly. They strive to use green materials in their projects and are always looking for ways to improve energy efficiency. Qingjian Realty also makes sure that their projects are designed to fit seamlessly into the existing urban landscape, while also creating a unique identity for each project.

Qingjian Realty has had a long and successful history of turning …

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Why are ECs in Bukit Batok and Tengah Getting Popular Compared to ECs in the East

Real Estate

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Recent years have seen a surge in the popularity of Executive Condominiums (ECs) in the western parts of Singapore, particularly in Bukit Batok and Tengah. There are multiple reasons behind why these ECs are becoming increasingly popular compared to ECs in the East, such as the proximity to the city, an abundance of amenities, family-friendly neighbourhoods and attractive pricing.

Bukit Batok and Tengah are both located close to the city, offering residents the convenience of being able to commute to the Central Business District and other areas in the city in a short amount of time. The MRT networks in the area are well-connected, allowing for easy travel to and from the city. Additionally, there are plenty of amenities and activities in the vicinity, such as shopping malls, cinemas, sports centres, and more. This makes it a great option for families who are looking for a convenient and comfortable …

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Delving into the Benefits and Advantages of Living near the Bukit Panjang Integrated Transport Hub

Mortgage

The Bukit Panjang Integrated Transport Hub (BPITH) is a recent addition to the public transportation network in Singapore. It is a major interchange station that connects the Bukit Panjang Light Rail Transit (LRT), Downtown Line (DTL), and North-South Line (NSL). This transport hub connects the Bukit Panjang and Choa Chu Kang areas to the rest of Singapore, providing residents and commuters with an efficient and convenient mode of transportation.

Living near the BPITH has numerous benefits and advantages. For starters, it provides easy and convenient access to other parts of Singapore. Commuting by public transport is now more comfortable and stress-free, as the hub ensures that there is always a direct connection to other parts of the city. This makes it easier for residents to move around, as they do not have to transfer from one train line to another, or wait long hours for a bus. Furthermore, the BPITH …

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A Critical Assessment of the Investment Profitability of Bukit Panjang Properties

Real Estate

The investment profitability of Bukit Panjang properties has been a topic of much discussion in recent years. This is due to the fact that the area has seen steady growth in its property prices and hence, has become a desirable investment destination for many investors. This article seeks to provide a critical assessment of the investment profitability of Bukit Panjang properties.

To begin with, it is important to consider the factors which make Bukit Panjang properties attractive to investors. One of the main factors is the location of the area, which is close to major transport links such as the Bukit Panjang LRT station and the Bukit Panjang MRT station. This means that the area is easily accessible from other parts of Singapore and is a great option for those looking to invest in property as it offers a convenient and affordable way to get around. Additionally, the area has …

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A Comprehensive Investor’s Guide to Promising Real Estate Projects in Singapore

Mortgage

Singapore is one of the most attractive real estate markets in the world. It boasts a high-income economy and a liberalized foreign investment policy. As such, it is a prime destination for investors looking to capitalize on its robust economy.

For those investors looking to get involved in the real estate market in Singapore, there are a number of things to consider. Firstly, it’s important to understand the local housing market. This includes understanding the different types of properties available, such as condominiums, landed properties, and HDB flats. It’s also important to understand the different types of financing options available, such as mortgages and loans.

When it comes to choosing a real estate project in Singapore, there are a number of factors that should be taken into account. Firstly, investors should assess the potential returns on the project. This includes looking at the potential rental yields and capital appreciation. Secondly, …

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Bukit Timah Condominiums: The Ideal Choice for Parents Looking for Homes in Close Proximity to Schools

Mortgage

Bukit Timah, located in the central region of Singapore, is a popular residential area for families because of its close proximity to schools and other amenities. The Bukit Timah condominiums offer the ideal choice for parents looking for homes in close proximity to the schools their children attend.

Bukit Timah is known for its quality educational institutions, with numerous primary and secondary schools, as well as international schools, located within the area. This makes it an ideal choice for parents looking to ensure their children receive the best possible education. Moreover, Bukit Timah is also home to numerous universities and higher education institutions, making it a great place for those looking to further their studies.

The condominiums in Bukit Timah come in various sizes and styles, catering to all types of budgets and requirements. From luxurious and spacious penthouses to cosy studio apartments, there is something for everyone. Most of …

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Unveiling the Potential of Emerging Real Estate Projects in West Singapore for Optimal Returns

Property News

The West Singapore real estate market has been highly sought after for its potential to generate optimal returns. As the city state continues to grow, the government is actively looking to expand its infrastructure, which has resulted in the emergence of a number of new real estate projects in the region. These projects offer investors the opportunity to capitalize on the potential of the region, while also providing an attractive return on investment.

The West Singapore real estate market has experienced rapid growth in recent years, due to a number of factors. Firstly, there has been strong population growth in the region and the government has been investing heavily in infrastructure projects to facilitate this growth. This has resulted in increased demand for housing, both residential and commercial, as well as other services such as transportation, healthcare and education. This has increased the value of property in the region and …

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