SGHOUSING.COM 新加坡房地产网

Expected to list on SGX by middle of the year.

More than a year since its decision to divest its industrial properties, JTC corporation - Singapore’s biggest industrial landlord - has appointed Mapletree Investments to establish and manage a real estate investment trust (Reit).

The Reit is expected to list on the Singapore Exchange by the middle of the year, subject to market conditions, said JTC.

“We received quality submissions from a wide range of international and local players. All proposals were evaluated based on individual merit against an objective set of criteria and Mapletree was chosen after a rigorous selection process,” said JTC chief executive officer Ow Foong Pheng.

JTC invited proposals to be submitted in May last year, after which it shortlisted seven potential Reit managers.

The divestment is part of JTC’s pledge to encourage greater competition in the industry property market and for the government agency to exit the development of ready-built industrial facilities in market segments where there is active private sector participation.

Out of the approximately 1.7 million square metres of industrial space intended for divestment, a “significant majority” will be placed in the Reit, while the rest will be sold through trade sales, JTC earlier said.

The properties are worth a total of between $1.4 billion to $1.6 billion.

The Reit’s portfolio will comprise a wide range of high-rise ready-built properties including flatted factories, ramp-up and stack-up factories, and multi-tenanted business park buildings.

Calling the asset portfolio “attractive” and “well diversified in terms of tenancy, location and asset type”, Mapletree CEO Hiew Yoon Khong said the properties also enjoy high occupancy rates, a good quality tenant base and long-staying tenants.

“We are confident that we will be able to add further value to this portfolio of assets,” said Mr Hiew.

Mapletree is the sponsor for SGX- listed Mapletree Logistics Trust and the co-manager of Lippo-Mapletree Indonesia Retail Trust, the first Indonesia retail Reit offering in Singapore.

It also intends to list a commercial trust with a $3-billion to $3.5-billion portfolio in the coming months.

Source : Weekend Today - 2 Feb 2008

Property Status  -  CLOSING SOON

Gideon’s Lodge 2  Room.

-          2 bedrooms Ground Floor Unit
-          893 sqft
-          Maintenance $90
-          Enbloc Potential         
-          V.T.O.

About Gideon’s Lodge

Address      - Joo Chiat Lane
Tenure        - FH
District        - 15
Total Unit    - 3 Storey 6 unit
Land Size   - 8,409 sqft
Plot Ratio   -  1.4

Facilities At Gideon’s Lodge

-  BBQ
-  Car Park

This development is less than 5 minutes walk away from Haig Girl’s School and 5 minutes drive from Parkway Parade. It is also near the East Coast beach, seafood restaurants and eating outlets.

Call 8118 3456 or e-mail vince@sghousing.com to arrange for viewing.

Mapletree Investments has been appointed by JTC Corporation to set up and manage a proposed real estate investment trust of its properties.

The REIT will acquire some of JTC’s high-rise ready-built properties.

These will include flatted factories, ramp-up and stack-up factories, and multi-tenanted business park buildings.

Mapletree was picked from a wide range of submissions made by international and local players.

JTC said all the proposals were evaluated based on individual merit against an objective set of criteria. Mapletree was chosen after a rigorous selection process.

The proposed REIT is targeted for around the middle of 2008, subject to market conditions.

Source : ChannelNewsAsia - 1 Feb 2008

BY September, Singapore’s first transitional office building will be ready for its tenant, Prudential Assurance Company Singapore, said the project’s developer yesterday.

Kop Capital, which is jointly developing the upcoming Scotts Spazio with partners Hwa Hong Group and Dubai Investment Group, said that the project would cost about $75 million - including the land cost of $37 million. Ground breaking for the four-storey development, next to Newton MRT station, was held yesterday.

Prudential, which has leased the building for 14 years, will be paying $6.50 per square foot a month. The site was sold by the Urban Redevelopment Authority (URA) in August 2007 with a 15-year lease. The building will have 150,000 sq ft of space, Prudential said.

The URA started releasing transitional office sites last year to help ease the supply crunch for space in the office sector.

The Scotts Road site was the first to be offered and it attracted a whopping 11 bids when the maiden tender closed, with the highest offer of $37 million put in by Kop Capital and its partners.

Prudential chief executive Philip Seah said that the company would relocate some 2,500 of its staff, mostly from its current offices in Fuji Xerox Building and Bugis Junction, where its leases are ending.

‘Consistent with our image of prominence, we were looking for a strategic location to relocate two of our existing agency centres,’ Mr Seah said. ‘The first transitional office site at Scotts Road proved to be ideal.’

The rent at Scotts Spazio is about half of what the company could potentially pay were it to stay on at Fuji Xerox and Bugis Junction, Mr Seah said.

Source : Business Times - 1 Feb 2008

AS A result of strong economic growth and a buoyant industrial space market in 2007, Singapore’s biggest industrial landlord JTC yesterday said that net take-up for its ready-built facilities reached a new record high of 214,700 sq m in 2007. This surpasses the previous record of 179,600 sq m set in 2005.

Similarly, a new high was also set for its prepared industrial land, which saw a net take-up of 341 ha in 2007.

The growth in the ready-built facilities segment came from increases in net allocation for flatted, stack-up and standard factory space, JTC said.

The overall occupancy for ready-built facilities rose to 92.7 per cent in 2007, from 87.8 per cent in 2006.

Gross allocation of ready-built facilities rose by 42 per cent to 399,900 sq m in 2007, from 281,000 sq m in 2006. However, the termination level also increased by 14 per cent year-on-year to 185,200 sq m in 2007 - giving a net allocation of 214,700 sq m.

For prepared industrial land, the robust net allocation was mainly due to ‘exceptionally strong’ gross allocation of 451 ha, an increase of 42 per cent over 2006, JTC said.

As a result, the occupancy rate for prepared industrial land reached 89 per cent last year. The bulk of the increase in net allocation came from specialised parks (which accounted for 250 ha - or 73 per cent - of the total net allocation of 342 ha). There was significant growth in net allocations for Jurong Island (156 ha) and Wafer Fab Park (42 ha).

JTC also said that the chemical sector made up 50 per cent of the total gross allocation of prepared industrial land for 2007. Manufacturing related and supporting sectors (such as logistics and services) accounted for 13 per cent and 12 per cent respectively of total gross allocation.

Market observers have said that rents and occupancy levels improved across all industrial space last year as many international companies have recently turned their sights on Singapore on the back of Asia’s growth.

Rents and occupancy rates for all industrial space are expected to continue growing this year, they said.

Source : Business Times - 1 Feb 2008