Company Briefs: CapitaLand and City Developments

CapitaLand and City Developments

Developers CapitaLand and City Developments (CDL) will launch the residential part of their integrated project, Sengkang Grand Residences, at prices starting from $798,000 for one-bedroom plus study units, they said yesterday.

The housing component comprises 680 units across nine blocks, with sizes ranging from 474 sq ft for a one-bedroom plus study, to 1,324 sq ft for a four-bedroom premium plus flexi unit type. A two-bedroom unit will cost $998,000; a three-bedder, $1.5 million; and a four-bedroom premium plus flexi unit, $2.1 million.

Sengkang Grand Residences at Sengkang Central comes with a mall, a community club, a hawker centre and a bus interchange.

The 3.7ha property is a joint venture between CapitaLand and CDL. The preview for the sales gallery opens tomorrow, with bookings starting on Nov 2.

Suntec Reit

Suntec Reit yesterday posted a 5.1 per cent drop in distribution per unit to 2.365 cents for its third quarter ended Sept 30, from 2.491 cents a year ago. This was mainly due to an enlarged unit base, after units from a $200 million private placement were issued on May 6.

The distribution will be paid out on Nov 28, after books closure on Nov 1.

Distributable income dipped 0.4 per cent year on year to $66.2 million for the third quarter as a result of lower capital distribution.

Meanwhile, distributable income from operations rose 5.7 per cent to $59.7 million from the year-ago quarter. Gross revenue was up 3.5 per cent on the year at $91.9 million for the quarter, from $88.8 million.

Frasers Centrepoint Trust

Frasers Centrepoint Trust's distribution per unit rose 1.8 per cent to 2.913 cents, from 2.862 cents a year ago for the fourth quarter ended Sept 30, boosted by higher portfolio occupancy and contributions.

Gross revenue was down 0.5 per cent at $48.3 million for the quarter, from $48.5 million a year ago.

Net property income edged down 0.1 per cent on the year to $32.85 million for the quarter, from $32.88 million a year ago.

Net non-property expenses stood at $11.1 million, $1.6 million higher than a year ago.

Income available for distribution rose 17.9 per cent year on year to $30.4 million, from $25.8 million. The distribution will be paid out on Nov 29, after books closure on Nov 1.

A version of this article appeared in the print edition of The Straits Times on October 24, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe