News by PC Lee

DBS is maintaining its “hold” call on OUE Commercial REIT (OUE CT) with a revised target price of 67 Singapore cents given likely operational weakness ahead of new office supply in 2017, dilution from the recent equity placement, and uncertainty over the timing of any acquisition.

The Ascott Ltd, CapitaLand’s wholly-owned serviced residence business unit, has acquired a prime property on New York’s Fifth Avenue.

Lim Ming Yan, President & Group CEO of CapitaLand, said: “CapitaLand has achieved another quarter of strong growth.

The UK was the preferred investment destination for 17% of Singaporeans, a 1% rise from last year. The continued interest in UK property is being driven by two key factors, says IP Global, the full-service property investment company.

These were contributed by higher sales and progressive revenue recognition from Singapore’s residential projects as compared to the previous corresponding quarter.

Frasers Property Australia and Sekisui House Australia on Thursday announced that they have entered into option agreements with Impact Investment Group (IIG) in relation to the sale of the hotel and commercial space at DUO, situated on the north-west corner of the Central Park precinct in Chippendale due for completion in mid-2018.

Astaka Holdings Ltd yesterday unveiled show units for its new development in Pengerang, Johor, where over US$7 billion (RM30.8 billion) of downstream investment has just been announced by Saudi state oil company Saudi Aramco.

Imperium Crown’s Japanese property portfolio originally consisted of five properties in Tokyo, Japan. On March 24, the company announced that it had received LOIs for its Green Forest Kuramae, New City Apartments Kuramae and New City Apartments Minowa properties for S$41.8 million.

Oxley Planetvision Properties, a 50%-owned joint venture company, has entered into a sale and purchase agreement to acquire the entire issued share capital of Flitous Properties and Jemina Properties from seller Bank of Cyprus.

Located at 896 Dunearn Road, the property sits on a part freehold and part 999 years leasehold commercial land of 140,886 sq ft.