CapitaMall Trust reports 2.6% rise in Q4 DPU
By Kristie Neo | Posted: 18 January 2013 1821 hrs
SINGAPORE : CapitaMall Trust Management on Friday said its distribution per unit (DPU) was up 2.6 per cent to 2.36 cents in the fourth quarter of 2012.
For the full year, unitholders will receive a total of 9.46 cents for the fiscal year, compared to 9.37 cents in 2011.
CapitaMall Trust Management said that for the fourth quarter of 2012, its distributable income grew 5.7 per cent to over S$79 million.
For the full year, distributable income grew 5.1 per cent to more than S$316 million.
Gross revenue rose 10 per cent to S$173.67 million, while net property income increased 14.3 per cent to S$112.91 million during the same period.
The management attributed this to completed asset upgrades in malls like the "Atrium@Orchard", JCube and Bugis+.
Ongoing enhancements in IMM are also expected to contribute positively this year.
The management added that its new Westgate shopping mall at Jurong Gateway is on track to be completed later this year.
Moving forward, the management said that it will look at some of its older malls for possible upgrading opportunities.
Wilson Tan, CEO of CapitaMall Trust Management Limited, said: "This is something important because last year we (were) able to churn out three new asset enhancement exercises, and this is really going to bring us great profits...for 2013, so asset enhancement is an exercise we will continue to do."
- CNA/ms
- wong chee tat :)
Showing posts with label Jurong Gateway. Show all posts
Showing posts with label Jurong Gateway. Show all posts
Thursday, January 24, 2013
Saturday, December 8, 2012
Retail rents narrowing between suburbs and Orchard Road, say analysts
Retail rents narrowing between suburbs and Orchard Road, say analysts
By Wong Siew Ying | Posted: 07 December 2012 2038 hrs
SINGAPORE: Renting retail space at a suburban mall these days may not be very much cheaper than renting one at Orchard Road, say analysts.
Colliers International said the gap between prime retail rents in the two segments have narrowed from 17 per cent in 2009 to 12 per cent this year.
Demand for retail space in suburban malls will continue to be strong, say analysts, citing the improving quality of suburban malls.
Rentals of prime space along Orchard Road are now only 12 per cent higher than neighbourhood malls, at about S$34 to S$37 per square foot on average.
Analysts expect rentals to stay fairly resilient in 2013, even though over two million square feet of retail space is set to come on stream.
Among them, over 400,000 square feet of space will be located in Orchard Road, with the rest located in suburban areas like Jurong.
"So many new international brands are coming in because they see Singapore as a gateway to the growth regions. Landlords will definitely not come down on rent when you get these names coming in," said Charles Ng, director of Retail Services at Colliers International.
Analysts also said that competition in the retail sector will be keen with newer malls in the market.
However they added that landlords should not have much problems finding tenants as the total vacancy rate is still at a healthy 6 per cent island wide.
Analysts have also pointed out the huge potential for growth in rental and capital value in Jurong East.
"The two new buildings, Jurong Gateway and Jem, will be seeing some relocation of jobs from Shenton Way into Jurong East… You are adding another 10,000 workers there. Within the next three years, the Jurong East retail scene will be significantly changed," said Ku Swee Yong, CEO of International Property Advisor.
Overall, analysts expect rentals of retail space in Singapore to fall by between 1 per cent and 3 per cent this year, compared to 2011.
- CNA/jc
- wong chee tat :)
By Wong Siew Ying | Posted: 07 December 2012 2038 hrs
SINGAPORE: Renting retail space at a suburban mall these days may not be very much cheaper than renting one at Orchard Road, say analysts.
Colliers International said the gap between prime retail rents in the two segments have narrowed from 17 per cent in 2009 to 12 per cent this year.
Demand for retail space in suburban malls will continue to be strong, say analysts, citing the improving quality of suburban malls.
Rentals of prime space along Orchard Road are now only 12 per cent higher than neighbourhood malls, at about S$34 to S$37 per square foot on average.
Analysts expect rentals to stay fairly resilient in 2013, even though over two million square feet of retail space is set to come on stream.
Among them, over 400,000 square feet of space will be located in Orchard Road, with the rest located in suburban areas like Jurong.
"So many new international brands are coming in because they see Singapore as a gateway to the growth regions. Landlords will definitely not come down on rent when you get these names coming in," said Charles Ng, director of Retail Services at Colliers International.
Analysts also said that competition in the retail sector will be keen with newer malls in the market.
However they added that landlords should not have much problems finding tenants as the total vacancy rate is still at a healthy 6 per cent island wide.
Analysts have also pointed out the huge potential for growth in rental and capital value in Jurong East.
"The two new buildings, Jurong Gateway and Jem, will be seeing some relocation of jobs from Shenton Way into Jurong East… You are adding another 10,000 workers there. Within the next three years, the Jurong East retail scene will be significantly changed," said Ku Swee Yong, CEO of International Property Advisor.
Overall, analysts expect rentals of retail space in Singapore to fall by between 1 per cent and 3 per cent this year, compared to 2011.
- CNA/jc
- wong chee tat :)
Tuesday, May 31, 2011
URA accepts joint tender for Jurong Gateway site at nearly S$969m
URA accepts joint tender for Jurong Gateway site at nearly S$969m
By Stella Lee | Posted: 30 May 2011 2242 hrs
SINGAPORE: The Urban Redevelopment Authority (URA) has accepted a joint tender for the Jurong Gateway site at a tender price of nearly S$969 million from CapitaMall Trust, CapitaMalls Asia and CapitaLand.
The 99-year leasehold site is likely to be developed into a mixed retail and office space.
It has a land area of approximately 18,159 square metres, with a maximum permissible total gross floor area of 88,980 square metres.
Jurong Gateway is located beside the Jurong East MRT interchange station, and close to JCube and IMM building.
- CNA/cc
- wong chee tat :)
By Stella Lee | Posted: 30 May 2011 2242 hrs
SINGAPORE: The Urban Redevelopment Authority (URA) has accepted a joint tender for the Jurong Gateway site at a tender price of nearly S$969 million from CapitaMall Trust, CapitaMalls Asia and CapitaLand.
The 99-year leasehold site is likely to be developed into a mixed retail and office space.
It has a land area of approximately 18,159 square metres, with a maximum permissible total gross floor area of 88,980 square metres.
Jurong Gateway is located beside the Jurong East MRT interchange station, and close to JCube and IMM building.
- CNA/cc
- wong chee tat :)
Subscribe to:
Posts (Atom)