CapitaLand Integrated Commercial Trust (CICT)

[Dividend Warrior]

Westgate to open its doors to shoppers on 2 December

-Brings city lifestyle to the west of Singapore
-Engages families and the community with social spaces and the arts
-Fairs, performances and attractive prizes to mark mall’s opening

News Release

[kazukirai]

Westgate to open its doors to shoppers on 2 December

-Brings city lifestyle to the west of Singapore
-Engages families and the community with social spaces and the arts
-Fairs, performances and attractive prizes to mark mall’s opening

News Release

I thought Westgate is going to be part of Capitamall Asia and not Capitamall Trust. Furthermore, looking at the structure of Capitamall Asia, they have an interest in CapitaMall Trust but not vice versa.

Did I get anything wrong?

[shanrui_91]

I thought Westgate is going to be part of Capitamall Asia and not Capitamall Trust. Furthermore, looking at the structure of Capitamall Asia, they have an interest in CapitaMall Trust but not vice versa.

Did I get anything wrong?

it was CMA (50%), CMT (30%), CapitaLand (20%) joint development. I think this is the first greenfield for retail reit in Singapore and they have to tap on capability of the developer

[kazukirai]

it was CMA (50%), CMT (30%), CapitaLand (20%) joint development. I think this is the first greenfield for retail reit in Singapore and they have to tap on capability of the developer

Thanks Shanrui for the clarification!

[kayhian]

Higher revenue from most of its properties led CapitaCommercial Trust (CCT) to report a higher distribution per unit for the fourth quarter of last year.

CCT will pay unitholders 2.09 cents for the three months to Dec 31, a 2 per cent rise from the same period a year ago, the trust's manager said on Thursday.

This brings its total distribution for last year to 8.14 cents, up 1.2 per cent from 2012.

Distributable income for the office trust rose 3.3 per cent in the fourth quarter from a year ago to $60.2 million, mainly due to lower interest expenses, CCT said.

[greengiraffe]

Prime office rents rise 5.5% in Q1

Average grade A overall rent hits $9.90 psf; vacancy rate down to 4%
Published on Apr 8, 2014


By Mok Fei Fei

A LACK of new supply and increased demand amid a more upbeat business climate boosted prime office rents in the first quarter, said property consultancy Cushman & Wakefield yesterday.

The average grade A overall rent hit $9.90 per square foot (psf) per month - up 5.5 per cent over the previous quarter and the fourth straight quarter of increases.

It was also up 10.1 per cent on the same period a year ago.

Rents for offices in Raffles Place were the big mover, up about 10 per cent over the previous quarter to $9.90.

Marina Bay rent had the next highest jump - rising 9.3 per cent to an average of $12.90.

Newer buildings in Marina Bay can command even better prices, with average monthly effective rents coming in around $13 to $14 psf.

Cushman & Wakefield reported yesterday that positive market sentiment coupled with a limited supply drove the hike in prime rents.

The tightening of supply and sustained demand also sent the vacancy rate down 0.2 percentage point to 4 per cent for the first quarter.

Raffles Place again benefited the most, with vacancy rates down to 3.1 per cent compared with 4 per cent in the previous quarter.

The vacancy rates for Marina Bay, Shenton Way and Orchard stayed the same.

City Hall, however, saw vacancies rise to 1.2 per cent compared with 0.5 per cent in the previous quarter.

The leasing market also stayed active, with a healthy number of inquiries.

Mr Toby Dodd, Cushman & Wakefield's Singapore head, said: "We expect prime office rents in the CBD area to continue to rise over the next few quarters, supported by a moderate level of new supply this year and positive economic sentiments as the outlook of the global economy improves."

The sustained growth of global economic powerhouses the United States and Japan is also likely to benefit local service sector firms, which often take up large plots of office space.

Cushman & Wakefield expects the financial and insurance, information and communication and business services segments in particular to show continued stable growth and support the high demand.

But it noted that the completion of major office buildings in the later part of this year may weigh on the rents of older blocks.

feimok@sph.com.sg

[greengiraffe]

Office rents here 'may rise fastest in the world this year'
Published on May 26, 2014 1:18 AM



By Melissa Tan

A LACK of office space could drive up rents at a faster pace in Singapore than anywhere else in the world this year, according to a report from property consultancy JLL.

JLL analysts told The Straits Times that skyrocketing rents here could in turn entice foreign funds, particularly those from the United States, to invest in the sector.

Prime office rents in the Central Business District (CBD) could climb by as much as 15 per cent to 16 per cent this year from last year, said JLL's head of research for Singapore and South-east Asia, Dr Chua Yang Liang.

In particular, rents for the newer offices in Marina Bay could increase by 16 per cent to 17 per cent over the same period.

This means that prime offices here are "predicted to top the rental growth league table" this year out of 25 markets worldwide, the report said, edging out major global cities like Dubai, London, New York and San Francisco.

Dr Chua added that rents were expected to shoot up this year due to limited supply, but could ease around 2016 once more office developments are completed.

He said: "Occupiers continue to renew their leases, so that's giving some positive sentiments to landlords... In the short term, there's a mismatch of demand and supply."

JLL Asia-Pacific research head Jane Murray said vacancy rates in Singapore have fallen "quite significantly".

"People were worried about oversupply for a while but it hasn't quite eventuated."

The buoyancy of the office market stands in stark contrast to the residential sector, where prices and rents have been dampened under several rounds of property market curbs.

JLL analysts said the strength of Singapore's office sector could draw interest from foreign investors.

US investors, rather than those from Europe, would likely be keener on Singapore, they said.

"There are a lot of funds from the US that are actively looking," said JLL research head for North and South America Benjamin Breslau.

JLL's head of research for Europe, the Middle East and Africa, Dr Lee Elliott, said investor interest from Europe would probably be less as funds there have many opportunities closer to home.

The size of the Singapore market, however, may deter foreign investment.

"Singapore is a relatively small market so sourcing for opportunities is harder compared to the US and Europe," said Dr Murray.

Mr Breslau added that office blocks here tended to be "relatively tightly held", meaning many owners do not want to sell.

CapitaGreen, a 700,000 sq ft office tower in the CBD, is expected to be completed by the end of this year.

The office components of mixed developments such as South Beach near Raffles Hotel, DUO in Bugis and Marina One in Marina Bay could also be completed within the next few years.

melissat@sph.com.sg

[kayhian]

SINGAPORE: CapitaMall Trust, Singapore’s largest shopping mall landlord, reported higher distributable income for the second quarter even as its tenants suffered poorer sales during the period.

The property trust, which is managed by Southeast Asia’s biggest developer CapitaLand, said its distributable income for the April to June period rose 6.5 per cent to S$93.4 million, helped by higher rents and occupancy levels.

But it also said in its detailed earnings statement that tenant sales per square foot decreased by 3.7 per cent year on year, while shopper traffic decreased by 2 per cent year on year.

Sales of music and video rose 13.1 per cent during the quarter, while sales of gift and souvenirs rose 13 per cent. Sales of IT and telecommunication products fell the most, declining by 17.2 per cent and 23.1 per cent, respectively.

Malls managed by CapitaMall Trust include Tampines Mall, Junction 8, Bugis Junction, Raffles City and Plaza Singapura.

[kayhian]

Source: OCBC MarketPulse

CapitaMall Trust: 2Q14 results within expectations

CapitaMall Trust (CMT) released its 2Q14 results this morning. NPI rose by 4.4% YoY to S$114.0m, while distributable income increased 6.5% to S$93.4m. Similarly, DPU for the quarter grew 6.3% to 2.69 S cents. Together with 1Q distribution, 1H14 DPU came in at 5.26 S cents, meeting 47.9% of our full-year DPU forecast. Management disclosed that the ongoing asset enhancement works at Bugis Junction, Tampines Mall and IMM Building are progressing well. In the upcoming 3Q, CMT plans to commence refurbishment works at Bukit Panjang Plaza. We will be tuning in to CMT’s results webcast later in the morning. For now, we maintain BUY on CMT, but place our S$2.20 fair value under review. (Kevin Tan)

[greengiraffe]

http://www.businesstimes.com.sg/companie...pore-cents

CCT Q3 DPU up 2.9% to 2.10 Singapore cents
Its portfolio committed occupancy rate is at 99.4%, above the market occupancy rate of 96.6%

By
Mindy Tantanmindy@sph.com.sg@MindyTanBT
CCT251014.JPG CAPITACOMMERCIAL Trust's (CCT) distribution per unit (DPU) for the third quarter rose 2.9 per cent, from 2.04 to 2.10 Singapore cents, on the back of a 4.8 per cent jump in distributable income, from S$58.8 million to S$61.6 million. PHOTO: CCT
25 Oct5:50 AM
Singapore

CAPITACOMMERCIAL Trust's (CCT) distribution per unit (DPU) for the third quarter rose 2.9 per cent, from 2.04 to 2.10 Singapore cents, on the back of a 4.8 per cent jump in distributable income, from S$58.8 million to S$61.6 million.

This was computed on the assumption