Property Sector. Phillip Securities Research Pte Ltd. 26 April 2011
|
|
- Kory Robertson
- 5 years ago
- Views:
Transcription
1 Property Sector Phillip Securities Research Pte Ltd 26 April 211 Residential sector Home prices: Property price index (PPI) of all private residential property increase 2.2% q-q from to PPI of non-landed private residential properties increased from to 192.9, or 1.7% q-q growth, compared to 1.8% in the last quarter. Most segments see residential property prices in 1Q11 stabilized with growth rates moderated, but price remain high at the current level. Home sales: Primary residential sales in March 211, excluding executive condominiums, increased 25.9% m-m to 1,386 units, first rebound since Nov 21. On the y-y basis, sales were however lower by 21.3%. For 1Q211, there were 3,676 units sold, decreased 14. and 17.3% compared to 4Q1 and 1Q1 respectively. We believe the government will let the current supply-side pressures to take its toll, although we do not rule out entirely the possibility of further demand-side interventions given the property price indices remain at its high level. That aside, the relatively flat supply in 211 and 212 coupled with overall healthy economic fundamentals, we continue to hold the view that private housing price should stabilize and trend sideways for most of 211. However, property prices may see correction (possibly ~) in 212 as more units will be available for sale towards the end of 211. Office sector Office space in the central region of Singapore continued its price and rental up trend in 1Q11. PPI increased from 11.5 to (4.9% q-q) while office rental index increased 5.4% to 168 in 1Q11. Vacancy rate of private sector office space in central region lifted slightly to 12.9% from 12.7% in the previous quarter. Due to the ample supply in 211, we expect vacancy rate to trend higher and lower rental reversion for the older generation grade-a office spaces as tenants continue to relocate to newer office building in downtown core. Rental hike at the new grade-a office space will be limited due to ample supply coming on stream. But with the current positive economic fundamentals, we expect a moderate growth of 3 to 6% in rental for Grade-A office in 211. Recommendations We continue to like OUE for its exposure in the office and hospitality sectors. We also like SC Global for its high margin spread in its ultra luxury residential projects, but possible risks lie on failure to achieve our estimated sales targets which could result in lowering its RNAV. We maintain our recommendations of Buy for OUE and SC Global, and Hold for Keppel Land and Ho Bee. Stocks RNAV Discount to RNAV Fair Value Previous Close Rating P/E P/B Keppel Land $ 4.92 $ 4.92 $ 4.4 Hold OUE $ 4.28 $ 4.13 $ 3.18 Buy Ho Bee $ $ 1.42 $ 1.48 Hold SC Global $ 3. 4 $ 1. $ 1.4 Buy 4..9 Analyst Bryan Go FAX gock@phillip.com.sg Web: MICA (P) 4/1/211 Ref No: SG211_128
2 Home prices URA released on Monday the 1Q11 statistics for private residential properties in Singapore. Property price index (PPI) of all private residential property increase 2.2% q-q from to 199.1, but pace of growth continue to slow since 3Q9. PPI of landed property increased from to 221.2, or 3.9% q-q growth, compared to 5. growth in the previous quarter. PPI of non-landed private residential properties increased from to 192.9, or 1.7% q-q growth, compared to 1.8% in the last quarter. In the core central region (CCR), PPI of non-landed private residential increased from 22.4 in 4Q1 to 24.6 in 1Q11, or 1.1% q-q growth compared to the 2.2% in the previous quarter. Non-landed residential property prices in the rest of central region (RCR) increased 2% q-q from.8 previously to in 1Q11, compared to 1.9% growth previously. In the outside central region (OCR), non-landed residential property prices experienced a stronger growth in 1Q11, increased 3.9% from to 183.7, compared to 2.6% growth in the last quarter. In the HDB segment, resale prices index increased from 172 to 174.8, continued to stabilize with 1.6% q-q growth, moderated from 2. seen in the last quarter. Figure 1: PPI of Private Residential Properties (4Q98=) 22 PPI of Private Residential Properties q-q growth (RHS) Q1 1Q1 2Q1 3Q1 4Q1 5Q1 6Q1 7Q1 8Q1 9Q Figure 2:PPI of Landed Residential Properties PPI of Landed Residential Properties q-q growth (RHS) Q1 1Q1 2Q1 3Q1 4Q1 5Q1 6Q1 7Q1 8Q1 9Q Figure 3:PPI of Non-Landed Residential Properties Figure 4: PPI of Non-landed Residential Properties in CCR, RCR and OCR PPI of Non-Landed Residential Properties q-q growth (RHS) Q1 1Q1 2Q1 3Q1 4Q1 5Q1 6Q1 7Q1 8Q1 9Q Q1 4Q3 5Q1 CCR RCR OCR 5Q3 6Q1 6Q3 7Q1 7Q3 8Q1 8Q3 9Q1 9Q Figure 5: HDB Resale Price Index Q1 HDB Resale Price Index q-q growth (RHS) 1Q1 2Q1 3Q1 4Q1 5Q1 6Q1 7Q1 8Q1 9Q Source: HDB, Phillip Securities Research 2
3 Home sales URA sales data shows primary residential sales in March 211, excluding executive condominiums, increased 25.9% m-m to 1,386 units, first rebound since Nov 21. On the y-y basis, sales were however lower by 21.3%. For 1Q211, there were 3,676 units sold, decreased 14. and 17.3% compared to 4Q1 and 1Q1 respectively. In the geographical segments, CCR saw revive in primary sale activity with 263 units sold by developers in March, compared to 141 units in February (86. m-m). Allgreen Properties sold 76 units of its at median price of $2,19 psf. In the RCR, developers sold 492 units in the month, compared to 223 units in February (.6% m-m). There were units of sold by Hoi Hup (median price $1,319 psf), topped the RCR segment. Things were a little different In OCR, developers sold 788 units in the month, compared to 864 units sold in February, a drop of 8.8%. CDL sold the most units in this region, unloaded 255 units from its Sengkang project, H2O Residences, at median price of $943 psf. The weaker y-y figures imply the latest round of cooling measures implemented by the government did taper off the buying sentiments in the market, but the extent of drop was less than the 2 overall that we were expecting. The stronger m-m figures in March also suggest that real buyers and investors are returning to the property market, particularly in the CCR and RCR. March also sees the take-up rate of 111.2%, or number of units sold higher than number of units launched in the month. Figure 6: Total units of private residential properties sold in regions 3 CCR RCR OCR Units launched in the month Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Sep-1 Dec-1 Mar-11 Figure 7: Quarterly private residential properties sold in regions Region 1Q1 2Q1 3Q1 4Q1 1Q11 q-q change y-y change All % CCR % -68.9% RCR % 51.8% OCR % 46.1% Residential units supply in the pipeline Data from residential supply in the pipeline shows completion in 211 and 212 remain relatively flat at ~1k units per year, and the numbers of annual completion are expected to increase to 13k in 213, 19k in 214 and 29.5k in 215. Figure 8: Private sector residential units completion and supply in the pipeline 35, 3, 25, Supply in pipeline (with planning approval) Supply in pipeline (under construction) Annual or YTD completion 1-year average = 857 units 2, 15, 1, 5, >215 We believe the government will let the current supply-side pressures to take toll, although we do not rule out entirely the possibility of further demand-side interventions given the 3
4 property price indices remain at its high level. That aside, the relatively flat supply in 211 and 212 coupled with overall healthy economic fundamentals, we continue to hold the view that private housing price should stabilize and trend sideways for most of 211. However, property prices may see correction (possibly ~5 %) in 212 as more units will be available for sale towards the end of 211 following the series of land sales conducted by the government. Figure 9: Number of unsold private residential units from projects with planning approvals by market segment Figure 1: Affordability of condominium CCR RCR OCR (x) sqm Condo price / annual income Condo PPI (RHS) Q1 Q3 1Q1 1Q3 2Q1 2Q3 3Q1 3Q3 4Q1 4Q3 5Q1 5Q3 6Q1 6Q3 7Q1 7Q3 8Q1 8Q3 9Q1 9Q3 Source: URA, CEIC, Phillip Securities Research Figure 11: Mortgage burden (x) Mortgage burden 3m Sibor (RHS) 8% 7% 6% 4% 3% 2% 1% Figure 12: Gross rental yield of Condominium 5.3% 5.1% 4.9% 4.7% % 4.1% 3.9% 3.7% 3. Gross Rental Yield of Condominium Condo vacancy rate (RHS) 11% 9% 8% 7% 6% 4% 3% Q1 Q3 1Q1 1Q3 2Q1 2Q3 3Q1 3Q3 4Q1 4Q3 5Q1 5Q3 6Q1 6Q3 7Q1 7Q3 8Q1 8Q3 9Q1 9Q3 5Q3 6Q1 6Q3 7Q1 7Q3 8Q1 8Q3 9Q1 9Q3 6Q3 6Q4 7Q1 7Q2 7Q3 7Q4 8Q1 8Q2 8Q3 8Q4 9Q1 9Q2 9Q3 9Q4 21Q2 21Q4 Source: URA, CEIC, Phillip Securities Research Source: URA, CEIC, Phillip Securities Research Figure 13: Median Rental Q3 6Q1 Median Rental ($psm pm) Vacancy Rate of Non-Landed Residential Units (RHS) 6Q3 7Q1 7Q3 8Q1 8Q3 Source: URA, CEIC, Phillip Securities Research 9Q1 9Q3 11% 9% 8% 7% 6% 4% 3% 4
5 Office sector Office space in the central region of Singapore continued its price and rental up trend in 1Q11. PPI increased from 11.5 to (4.9% q-q) while office rental index increased 5.4% to 168 in 1Q11. Median price of office space in central region is at $3 psf while median rental is at $9.29 psf pm in 1Q11. Vacancy rate of private sector office space in central region lifted slightly to 12.9% from 12.7% in the previous quarter. Figure 14: Price and rental index of office space in central region Q1 Q3 1Q1 1Q3 Property Price Index of Office Space in Central Area Rental Index of Private Sector Office Space in Central Region 2Q1 2Q3 3Q1 3Q3 4Q1 4Q3 5Q1 5Q3 6Q1 6Q3 7Q1 7Q3 8Q1 8Q3 9Q1 9Q Figure 15: Median price and rent of office space in central region Median price S$psf (LHS) Median rent S$psf p.m.(rhs) Q1 1991Q1 1992Q1 1993Q1 Q1 1Q1 2Q1 3Q1 4Q1 5Q1 6Q1 7Q1 8Q1 9Q1 Figure 16: Vacancy rate and median rent of private office space in central region % Q1 1993Q1 Vacancy rate (LHS) Q1 1Q1 Median rent S$psf p.m.(rhs) 2Q1 3Q1 4Q1 5Q1 6Q1 7Q1 8Q1 9Q1 S$ psf In the downtown core area, supply outstripped demand with supply came mainly from partial completion of Ocean Financial Centre (Keppel Land) and OUE Bayfront (OUE) with TOP awarded to approximately 522k sq ft and 39k sq ft of the their GFA respectively. Net demand for office space in downtown core remains strong at 377k sq ft. Figure 17: Net demand and supply of private office space in downtown core 5
6 Q1 6Q3 7Q1 7Q3 8Q1 8Q3 9Q1 9Q ' sf Net supply (LHS) Net demand (LHS) Occupancy rate (RHS) % Figure 18: Annual net demand and supply of private and public office space (Island-wide) yr avg D =.8 mil sf YTD - ' sf Net Supply (LHS) Net Demand (LHS) Occupancy Rate (RHS) Office space supply in the pipeline As of 1Q11 data, there will be ~3.6mil sq ft of office space completing in 211, and over 2.1mil sq ft and 3mil sq ft completing in 212 and 213 respectively. Other than 211 and 213, the annual supplies seem comparable to those net demand in the boom years that could hit >2mil sq ft p.a. Figure 19: Supply in the pipeline as of 1Q % > Completed Under Construction Planned ' sf Due to the ample supply in 211, we expect vacancy rate to trend higher and lower rental reversion for the older generation grade-a office spaces as tenants continue to relocate to newer office building in downtown core. Rental hike at the new grade-a office space will be limited due to ample supply coming on stream. But with the current positive economic fundamentals, we expect a moderate growth of 3 to 6% in rental for Grade-A office in 211. Do note that the supply in the pipeline has not taken into account the possible deduction of available office space due to building redevelopment and conversion into residential use. 6
7 Important Information This publication is prepared by Phillip Securities Research Pte Ltd., 25 North Bridge Road, #6-, Raffles City Tower, Singapore (Registration Number: N), which is regulated by the Monetary Authority of Singapore ( Phillip Securities Research ). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below. This publication has been provided to you for personal use only and shall not be reproduced distributed or published by you in whole or in part, for any purpose. If you have received this document by mistake, please delete or destroy it, and notify the sender immediately. Phillip Securities Research shall not be liable for any direct or consequential loss arising from any use of material contained in this publication. The information contained in this publication has been obtained from public sources which Phillip Securities Research has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively, the Research ) contained in this publication are based on such information and are expressions of belief of the individual author or the indicated source (as applicable) only. Phillip Securities Research has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete, appropriate or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the preparation or issuance of this report, (i) be liable in any manner whatsoever for any consequences (including but not limited to any special, direct, indirect, incidental or consequential losses, loss of profits and damages) of any reliance or usage of this publication or (ii) accept any legal responsibility from any person who receives this publication, even if it has been advised of the possibility of such damages. You must make the final investment decision and accept all responsibility for your investment decision including but not limited to your reliance on the information, data and/or other materials presented in this publication. Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this publication is not indicative of future results. This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This publication should not be relied upon exclusively or as authoritative without further being subject to the recipient s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks. Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this research should take into account existing public information, including any registered prospectus in respect of such product. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the preparation or issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the preparation or issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this publication, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the preparation or issuance of this report, may have provided advice or investment services to such companies and investments or related investments as may be mentioned in this publication. Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the preparation or issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment. To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the preparation or issuance of this report, may at any 7
8 time engage in any of the above activities as set out above or otherwise hold a interest, whether material or not, in respect of companies and investments or related investments which may be mentioned in this publication. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the preparation or issuance of this report, which is not reflected in this material, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the preparation or issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the preparation or issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this material. The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction. Section 27 of the Financial Advisers Act (Cap. 11) of Singapore and the MAS Notice on Recommendations on Investment Products (FAA- N1) do not apply in respect of this publication. This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products. Please contact Phillip Securities Research at [ ] in respect of any matters arising from, or in connection with, this document. This report is only for the purpose of distribution in Singapore. Contact Information Singapore Research Chan Wai Chee CEO, Research Special Opportunities yebo@phillip.com.sg Lee Kok Joo, CFA Head of Research REITS, S-chips, Strategy leekj@phillip.com.sg Joshua Tan Strategy & Macro Singapore, US, China joshuatan@phillip.com.sg Magdalene Choong, CFA Investment Analyst SG & US Financials, Gaming magdalenechoongss@phillip.com.sg Phua Ming-weii Technical and Market Analyst phuamw@phillip.com.sg Go Choon Koay Bryan Investment Analyst Property gock@phillip.com.sg Derrick Heng Investment Analyst Aviation, Land Transport derrickhengch@phillip.com.sg 8
9 Regional Member Companies SINGAPORE Phillip Securities Pte Ltd Raffles City Tower 25, North Bridge Road #6- Singapore Tel : (65) Fax : (65) Website: HONG KONG Phillip Securities (HK) Ltd Exchange Participant of the Stock Exchange of Hong Kong 11/F United Centre 95 Queensway Hong Kong Tel (852) Fax (852) Websites: INDONESIA PT Phillip Securities Indonesia ANZ Tower Level 23B, Jl Jend Sudirman Kav 33A Jakarta 122 Indonesia Tel (62-21) 579 Fax (62-21) 5799 Website: THAILAND Phillip Securities (Thailand) Public Co. Ltd 15th Floor, Vorawat Building, 849 Silom Road, Silom, Bangrak, Bangkok 15 Thailand Tel (66-2) / Fax (66-2) Website UNITED KINGDOM King & Shaxson Capital Limited 6th Floor, Candlewick House, Cannon Street, London, EC4N 6AS Tel (44-2) Fax (44-2) Website: MALAYSIA Phillip Capital Management Sdn Bhd B-3-6 Block B Level 3 Megan Avenue II, No. 12, Jalan Yap Kwan Seng, 545 Kuala Lumpur Tel (63) Fax (63) Website: JAPAN PhillipCapital Japan K.K. Nagata-cho Bldg., 8F, Nagata-cho, Chiyoda-ku, Tokyo -14 Tel (81-3) Fax (81-3) Website: CHINA Phillip Financial Advisory (Shanghai) Co. Ltd No 55 Yan An East Road, Ocean Tower Unit 2318, Postal code 1 Tel (86-21) Fax (86-21) Website: FRANCE King & Shaxson Capital Limited 3rd Floor, 35 Rue de la Bienfaisance 758 Paris France Tel (33-1) Fax (33-1) Website: UNITED STATES Phillip Futures Inc 141 W Jackson Blvd Ste 35 The Chicago Board of Trade Building Chicago, IL 664 USA Tel Fax AUSTRALIA PhillipCapital Australia Level 37, 53 Collins Street, Melbourne, Victoria 3, Australia Tel (613) Fax (613) Website:
Private Residential Market REAL ESTATE DATA TREND Q3 2018
Private Residential Market REAL ESTATE DATA TREND Q3 2018 Duo Residences Page 1 Notwithstanding the recent property cooling measures, the private residential market remained resilient in Q3 Sentiment in
More informationVolume #45 - Quarterly Investor Update (Q2 FY2018) 31 August 2018 ASEANA TRACKER. Property Portfolio Update
ASEANA TRACKER As at 30 June 2018* NAV/Share : US$ 0.655 RNAV/Share : US$ 0.864 * calculated based on 212,025,002 issued share capital NAV/Share : US$ 0.699 RNAV/Share : US$ 0.922 * calculated based on
More informationAustralian Dwelling Prices and Tobin's q
Australian Dwelling Prices and Tobin's q Presentation to UNSW Business School Real Estate Symposium Peter Jolly, Global Head of Research September 2016 Tobin's q q = Market Value for an asset Replacement
More informationPRIVATE RESIDENTIAL PRICE STAYED STABLE DESPITE COOLING MEASURES AND UNCERTAIN EXTERNAL ENVIRONMENT IN Q3 SINGAPORE RESEARCH RESIDENTIAL
RESEARCH RESIDENTIAL Q3 218 RESIDENTIAL MARKET SNAPSHOT All Private Residential Property Price Index 149.7 8.8% increase yoy Total Transaction Volume* (Q3 218) 5,812 units 28% decrease yoy *Transaction
More informationREAL ESTATE DATATREND Private Residential Market
REAL ESTATE DATATREND Private Residential Market Keener Sense of Real Estate Market bottom in sight 28 th July 2017 Longest losing streak in prices continues The longest losing streak of Singapore private
More informationIndustry Outlook Office Real Estate (Singapore)
Refer to important disclaimers at the end of this report DBS Group Research Asian Insights Office 16 May 2017 Overall Outlook Office rents to bottom in 2017 With Marina One slated to be completed this
More informationHow low can it go? MARCH A study on the price trends and the impact of various government policies on the Executive Condominium market
P ROP ERT Y HERALD How low can it go? A study on the price trends and the impact of various government policies on the Executive Condominium market Introduction Executive Condominium (EC) is a hybrid of
More informationSITTING ON GOLDMINE THE LANDED HOUSING SEGMENT
MAR 214 / ISSUE 11 SQUARE FOOT RESEARCH PTE. LTD. Phone: +65 6223 2163 Website: www.squarefoot.com.sg The private landed residential segment has outperformed its non landed counterpart for 12 consecutive
More informationOFFICE AND RETAIL STRATA MARKETS REMAINED MUTED, WHILE SHOPHOUSES RECEIVED SUSTAINED BUYING INTEREST IN H1 2017
H1 21 BIANNUAL RESEARCH BULLETIN SINGAPORE COMMERCIAL SALES OFFICE AND RETAIL STRATA MARKETS REMAINED MUTED, WHILE SHOPHOUSES RECEIVED SUSTAINED BUYING INTEREST IN H1 21 Strata-Titled Offices: Total transaction
More informationPROPERTY INSIGHTS Q1 Snapshot
PROPERTY INSIGHTS Singapore Quarter 1, 2018 2018 Q1 Snapshot Residential market on the upturn Prices of private residential properties rose significantly in. How do the other market segments fare? Singapore
More informationAPAC REALTY, OPERATOR OF MARKET-LEADING REAL ESTATE BROKERAGE IN SINGAPORE UNDER THE ERA BRAND, LAUNCHES $58.2 MILLION IPO
APAC REALTY, OPERATOR OF MARKET-LEADING REAL ESTATE BROKERAGE IN SINGAPORE UNDER THE ERA BRAND, LAUNCHES $58.2 MILLION IPO APAC Realty, through its wholly-owned subsidiary ERA Realty, is the operator of
More informationMARKET STRATEGY VIEWPOINT U.S. Housing Decelerating
Jan-01 Oct-01 Jul-02 Apr-03 Jan-0 Oct-0 Jul-05 Apr-0 Jan-07 Oct-07 Jul-08 Apr-09 Jan-10 Oct-10 Jul-11 Apr-12 Jan-13 Oct-13 Jul-1 Apr-15 Jan-1 Oct-1 Jul-17 Apr-18 U.S. Housing Decelerating August 27, 2018
More informationBRISBANE HOUSING MARKET STUDY
BRISBANE HOUSING MARKET 2018 STUDY Executive Summary Brisbane s residential market, especially the detached houses segment has risen steadily over the last year due to the rise in population, falling unemployment
More informationSUNTEC REIT FINANCIAL RESULTS. For the 2 nd Quarter and Half Year ended 30 June 2017
SUNTEC REIT FINANCIAL RESULTS For the 2 nd Quarter and Half Year ended 30 June 2017 26 July 2017 Agenda 03 2Q 17 Highlights 05 Financial Highlights 18 Office Portfolio Performance 25 Retail Portfolio Performance
More informationAPAC REALTY POSTS DOUBLE-DIGIT GROWTH IN NET PROFIT FOR 9M FY2018
APAC REALTY POSTS DOUBLE-DIGIT GROWTH IN NET PROFIT FOR 9M FY2018 Total revenue jumped 26.3% to S$342.1 million in 9M FY2018, mainly due to the increase in brokerage income from the resale and rental of
More informationGLOBAL ECONOMICS GLOBAL REAL ESTATE TRENDS
November, 17 Growing Canada s Rental Market Part CONTACTS Rental housing demand is growing in all regions of the country. In addition to affordability considerations, demographic trends including millennials
More informationVolume #40 - Quarterly Investor Update (Q1 FY2017) 23rd June 2017 ASEANA TRACKER. Property Portfolio Update
ASEANA TRACKER Highlights SENI Mont Kiara ( SENI ) achieved approximately 99% sales to date. The RuMa Hotel and Residences ( The RuMa ) achieved approximately 55% sales based on sale and purchase agreements
More informationBaltic Housing Affordability Index
Macro Research Macro Research - Baltic Housing Affordability Index December 19, 2017 Baltic Housing Affordability Index The housing affordability index (HAI) increased to 148.6 in Tallinn, 177.2 in Riga,
More informationCHINA AND HONG KONG RESIDENTIAL MARKETS. by Knight Frank and Holdways 10 December 2014
CHINA AND HONG KONG RESIDENTIAL MARKETS by Knight Frank and Holdways 10 December 2014 CHINA S ECONOMY, POLICIES AND IMPACT ON DEVELOPERS Presented by Helen Liu General Manager, Beijing Holdways Information
More informationPresentation for REITs Symposium 2016
Presentation for REITs Symposium 2016 4 June 2016 Important Notice This presentation shall be read in conjunction with OUE Commercial REIT s Financial Results announcement for 1Q 2016 dated 10 May 2016.
More informationInterim Results for the six months ended 30 June 2012
Interim Results for the six months ended 30 June 2012 Disclaimer This document has been prepared by ARA Asset Management (Prosperity) Limited, in its capacity as the manager ( REIT Manager ) of Prosperity
More informationBriefing Melbourne Fringe Office February 2018
Savills Research Victoria Briefing Melbourne Fringe Office Highlights The St Kilda Road office market recorded positive net absorption for the first-time in three years causing its vacancy rate to fall
More informationAll Ratings Affirmed In U.K. RMBS Transaction First Flexible No. 6 Following Review
All Ratings Affirmed In U.K. RMBS Transaction First Flexible No. 6 Following Review Surveillance Credit Analyst: Simonetta Colombara, Milan (39) 02-72111-264; simonetta.colombara@standardandpoors.com OVERVIEW
More informationResidential. Savills Research
February 28, 2011 "Although rents for certain unit types remain under pressure in some submarkets, Tokyo s overall residential leasing market continued to stabilise during Q4/2010. In particular, average
More informationFrasers Commercial Trust 3 rd Annual General Meeting. 17 January 2012
Frasers Commercial Trust 3 rd Annual General Meeting 17 January 2012 Important notice Certain statements in this Presentation constitute forward-looking statements, including forward-looking financial
More informationInner Perth Residential Market Report
Inner Perth Residential Market Report MARCH QUARTER 2014 Inner Perth Residential Market Market Highlights While Western Australia will experience slowed short term growth as the state transitions from
More informationPropertyGuru Property Market Outlook 2018
PropertyGuru Property Market Outlook 2018 PropertyGuru Property Market Outlook 2018 The PropertyGuru Property Market Outlook report is published annually and uses a wide scope of proprietary and public
More informationEDITION 1 GEELONG REGIONAL CENTRE REVIEW GEELONG 2017 MARCH
2017 EDITION 1 GEELONG REGIONAL CENTRE REVIEW 2017 MARCH GEELONG GEELONG AT A GLANCE OVERVIEW MAJOR GOVERNMENT FUNDED PROJECTS National Disability Insurance Agency Headquarters / Department of Human Services
More informationLocation of Residential Sites at Upper Serangoon View Source: URA
DOUBLE TROUBLE TWIN TENDER A FRESH APPROACH NOVEMBER 2013 / ISSUE 7 SQUARE FOOT RESEARCH PTE. LTD. Phone: +65 6223 2163 Website: www.squarefoot.com.sg Two pairs of adjacent sites are up for sale this year
More informationEMERGING TOWNS & CITIES SINGAPORE LTD. a.k.a. ETC SINGAPORE. FY16 Corporate Presentation
EMERGING TOWNS & CITIES SINGAPORE LTD. a.k.a. ETC SINGAPORE FY16 Corporate Presentation This presentation may contain forward looking statements that involve risks and uncertainties. Actual future performance,
More informationCycle Monitor Real Estate Market Cycles Third Quarter 2017 Analysis
Cycle Monitor Real Estate Market Cycles Third Quarter 2017 Analysis Real Estate Physical Market Cycle Analysis of Five Property Types in 54 Metropolitan Statistical Areas (MSAs). Income-producing real
More informationFY2013 Annual Results. 26 September New World One Step Forward We Create New Living Experience
FY2013 Annual Results 26 September 2013 New World One Step Forward We Create New Living Experience Disclaimer IMPORTANT NOTICE The information contained in these materials is intended for reference and
More informationRESIDENTIAL RESEARCH MARKET ACTIVITY REPORT FOR AUSTRALIAN CAPITAL CITIES & REGIONAL CENTRES
RESIDENTIAL RESEARCH MARKET ACTIVITY REPORT FOR AUSTRALIAN CAPITAL CITIES & REGIONAL CENTRES Sep-16 Mar-17 Mar-17 Jun-17 Sep-16 Mar-17 The official cash rate target remained at 1.5 on 6 June 2017. Domestic
More informationSUNTEC REIT FINANCIAL RESULTS. For the 1 st Quarter ended 31 March 2017
SUNTEC REIT FINANCIAL RESULTS For the 1 st Quarter ended 31 March 2017 26 April 2017 Agenda 03 Q1 17 Highlights 05 Financial Highlights 15 Office Portfolio Performance 22 Retail Portfolio Performance 29
More informationDomain.com.au House Price Report December Quarter 2015
Domain.com.au House Price Report December Quarter 2015 Dr Andrew Wilson Senior Economist for Domain.com.au Key findings Record drop in Sydney median house prices over the December quarter Melbourne and
More informationThe Estonian Economy. Macro Research. Housing market risks diluted. Macro Research - The Estonian Economy. 8 July, 2016.
Macro Research 8 July, The Estonian Economy Newsletter Housing market risks diluted The surge in supply has almost halted price growth Construction sector investments low Real estate prices relative to
More informationResidential Commentary - Perth Apartment Market
Residential Commentary - Perth Apartment Market March 2016 Executive Summary The Greater Perth apartment market has attracted considerable interest from local and offshore developers. Projects under construction
More informationProperty. Mashreq. Economic Overview. Wealth Gauge
Wealth Gauge Volume 23 November 2015 Economic Overview In spite of the dip in Global Oil prices the GDP for 2015 grew at 3.5. The UAE economic growth is expected to slow down and grow at 2.9 in 2016 driven
More informationAPAC REALTY REPORTS NET PROFIT OF S$24.2 MILLION IN FY2018
APAC REALTY REPORTS NET PROFIT OF S$24.2 MILLION IN FY2018 Declares final dividend of 2.5 cents per share; including the interim dividend of 2.0 cents per share, bringing the total dividend for FY2018
More informationDemocratising Property Investments
Democratising Property Investments What I wish to share today 1. Property sector outlook 2. How theedgeproperty.com can help you make better property investment decisions Property Sector Outlook The property
More informationStock Screener Page Tour
Stock Screener Page Tour Important Disclosure Information is contained on the last page of this report. The recipient of this report is directed to read these disclosures. Page 2 confidential New Constructs,
More informationVolume #24 - Quarterly Investor Update (Q1 FY2013) 17 May 2013 ASEANA TRACKER. Property Portfolio Update
ASEANA TRACKER Highlights The Aloft Kuala Lumpur Sentral Hotel ( Aloft ) commenced business on 22 March 2013. Sales at The RuMa Hotel and Residences was launched on 8 March 2013. The City International
More informationSELF-STORAGE REPORT VIEWPOINT 2017 / COMMERCIAL REAL ESTATE TRENDS. By: Steven J. Johnson, MAI, Senior Managing Director, IRR-Metro LA. irr.
SELF-STORAGE REPORT VIEWPOINT 2017 / COMMERCIAL REAL ESTATE TRENDS By: Steven J. Johnson, MAI, Senior Managing Director, IRR-Metro LA The Self Storage Story The self-storage sector has been enjoying solid
More informationBaltic Housing Affordability Index
Macro Research Macro Research - Baltic Housing Affordability Index 10 June, 2016 Baltic Housing Affordability Index The housing affordability index (HAI) increased to 132.3 in Vilnius, 166.5 in Riga, and
More informationResidential Commentary Sydney Apartment Market
Residential Commentary Sydney Apartment Market April 2017 Executive Summary Sydney Apartment Market: Key Indicators 14,200 units are currently under construction in Inner Sydney with completion expected
More informationPresented by Corporate Visions Pte Ltd
Our Vision : To be the leading consultancy in commercial and industrial properties Our Mission: To provide professional, value-added and cost effective business space solutions Presented by Corporate Visions
More informationREAL ESTATE SENTIMENT INDEX 1 st Quarter 2014
About Real Estate Sentiment Index (RESI) The Real Estate Sentiment Index (RESI) is jointly developed by the Real Estate Developers Association of Singapore (REDAS) and the Department of Real Estate (DRE),
More informationReal Estate Market Commentary 08-Sept-13 to 14-Sept-13
Kuwait Financial Centre Markaz MENA REAL ESTATE RESEARCH Research Highlights: A weekly market commentary Contents Market Commentary Charts to Note Activity Monitor: Dubai, Kuwait, Riyadh - KSA, Dammam
More informationSingapore Office REITs
Singapore Industry Focus Refer to important disclosures at the end of this report DBS Group Research. Equity 9 Nov 2016 Bullish signal from developers Central Boulevard office sold on implied price in
More informationCalifornia Housing Market Update. Monthly Sales and Price Statistics October 2018
California Housing Market Update Monthly Sales and Price Statistics October 2018 Sales Had the 2 nd Largest Drop in the Last 6 Months California, October 2018 Sales: 397,060 Units, -3.7% YTD, -7.9% YTY
More informationBaltic Housing Affordability Index
Macro Research Macro Research - Baltic Housing Affordability Index 7 September, 2016 Baltic Housing Affordability Index The housing affordability index (HAI) increased to 159.6 in Tallinn and 171.3 in
More informationHopewell HK Properties (288 HK)
Hopewell HK Properties (288 HK) Hong Kong / Properties / IPO brief A long-established property developer in Hong Kong Spin off from Hopewell Holdings with a property portfolio of ~3.5mn sq ft GRA in HK
More informationPROPERTY INSIGHTS. Market Overview. Purchase sentiment improved. Singapore Quarter 2, Residential price indices
PROPERTY INSIGHTS Singapore Quarter 2, 2012 Market Overview Purchase sentiment improved While lingering concerns over the eurozone debt problems continued to plague occupier sentiment in Q2 2012, purchase
More informationProperty. Mashreq. Economic Overview. Wealth Gauge.
Economic Overview The UAE economy has registered a growth of 5.2 in 2013. In spite of the dip in Oil prices globally the economy is expected to have registered a GDP growth between 4.7-4.8 in 2014. The
More informationMRCB. Company Update. Shopping For Choice Land TRADING BUY. MALAYSIA EQUITY Investment Research Daily News
PP10551/10/2010(025682) 09 February 2010 Norfauzi Nasron +60 (3) 9207 7644 norfauzi.nasron@osk.com.my Company Update MRCB Shopping For Choice Land MALAYSIA EQUITY Investment Research Daily News TRADING
More informationPresented by Corporate Visions Pte Ltd
Our Vision : To be the leading consultancy in commercial and industrial properties Our Mission: To provide professional, value-added and cost effective business space solutions Presented by Corporate Visions
More informationAttached for release to the market is a Canberra Update booklet that was provided today as part of an Analyst and Investor tour of Canberra.
23 June 2010 MIRVAC GROUP CANBERRA Attached for release to the market is a Canberra Update booklet that was provided today as part of an Analyst and Investor tour of Canberra. For further information please
More informationProperty. Mashreq. Economic Overview. Wealth Gauge.
Economic Overview United Arab Emirates has continued to benefit from surging confidence, safeheaven status, rising population and stable world class real estate market opportunities. The macroeconomic
More informationBaltic Housing Affordability Index
Macro Research Macro Research - Baltic Housing Affordability Index June 8, 2018 Baltic Housing Affordability Index The housing affordability index (HAI) increased to 182.0 in Riga and 152.0 in Tallinn,
More informationECONOMIC CURRENTS. Vol. 5 Issue 2 SOUTH FLORIDA ECONOMIC QUARTERLY. Key Findings, 2 nd Quarter, 2015
ECONOMIC CURRENTS THE Introduction SOUTH FLORIDA ECONOMIC QUARTERLY Economic Currents provides an overview of the South Florida regional economy. The report presents current employment, economic and real
More informationBERJAYA ASSETS BERHAD
BERJAYA ASSETS BERHAD ANNOUNCEMENT PROPOSED NOVATION OF AGREEMENT RELATING TO THE PROPOSED ACQUISITION OF OFFICE UNITS IN MENARA MSC CYBERPORT, JOHOR BAHRU 1.0 INTRODUCTION 1.1 The Board of Directors of
More informationBriefi ng Residential leasing June 2017
Savills World Research Singapore Briefi ng Residential leasing SUMMARY Image: Echelon at Alexandra View Rents continued to trend lower despite strong showing in leasing transactions in /217. The job market
More informationIndustrialists and landlords to brace for challenges in 2016
Research & Forecast Report SINGAPORE INDUSTRIAL Q1 2016 Industrialists and landlords to brace for challenges in 2016 Doreen Goh Associate Director, Research and Advisory Leasing activities in the industrial
More informationSector Report. Singapore Developers. 3 Oct 16, 8.15am/11.15am Morning Call/Webinar
3 Oct 16, 8.15am/11.15am Morning Call/Webinar Sector Report Singapore Developers Disclaimer The information contained in this presentation has been obtained from public sources which Phillip Securities
More informationReal Estate Market Commentary 09-Dec-12 to 22-Dec-12
Research Highlights: A weekly market commentary Contents Market Commentary Charts to Note Activity Monitor: Dubai, Kuwait, Riyadh - KSA, Dammam KSA Qatar Markaz Research is available on: Bloomberg - Type
More informationPERSPECTIVE. Private Residential (Landed) Market Review & Outlook. Prices continued to decline 2Q 2015
PERSPECTIVE 2015 Private Residential (Landed) Market Review & Outlook Prices continued to decline Prices continued their decline in the second quarter of 2015, falling 1.0% quarter-on-quarter (QoQ) and
More informationNew World One Step Forward. We Create New Living Experience. FY2014 Annual Results 24 Sep 2014
New World One Step Forward We Create New Living Experience FY2014 Annual Results 24 Sep 2014 Disclaimer IMPORTANT NOTICE The information contained in these materials is intended for reference and general
More informationDomain Rental Report September Quarter 2016
Domain Rental Report September Quarter 2016 Dr Andrew Wilson Chief Economist for Domain.com.au Key findings House rents in Sydney, Melbourne, Brisbane, Adelaide and Darwin all remain steady Canberra is
More informationLehigh County Authority, Pennsylvania; Water/Sewer
Summary: Lehigh County Authority, Pennsylvania; Water/Sewer Primary Credit Analyst: Paula E Costa, New York (1) 212-438-4754; paula.costa@standardandpoors.com Secondary Contact: Corey A Friedman, Chicago
More informationSuburb Profile Report. Paddington, 2021 NSW
Suburb Profile Report Paddington, 2021 NSW October 2018 About Sound Property Group Sound Property Group is a property investment and education company specialised in sourcing strategic real estate opportunities,
More informationSummary of JREI Global Property Value/Rent Indices (No. 10, Apr. 2018)
May 29, 2018 Japan Real Estate Institute (JREI) JREI-kenkyu-madoguchi@imail.jrei.jp Summary of JREI Global Property Value/Rent Indices (No. 10, Apr. 2018) We are pleased to release a summary of the results
More informationProposed Acquisition of an Indirect Interest in One Raffles Place. 10 June 2015
Proposed Acquisition of an Indirect Interest in One Raffles Place 10 June 2015 Disclaimer This presentation should be read in conjunction with the announcement on the proposed acquisition of an indirect
More informationFAR EAST CONSORTIUM INTERNATIONAL LIMITED *
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness
More informationHONG KONG PRIME OFFICE Monthly Report
RESEARCH MARCH 2010 HONG KONG PRIME OFFICE Monthly Report Office market rally continues Hong Kong s economy showed further signs of recovery this past month, benefiting from a revival in regional trade,
More informationBaltic Housing Affordability Index
Macro Research Macro Research - Baltic Housing Affordability Index 20 December, 2016 Baltic Housing Affordability Index The housing affordability index (HAI) increased to 162.5 in Riga, but decreased to
More informationDUBAI HOUSING MARKET STUDY 2017
DUBAI HOUSING MARKET STUDY 217 Executive Summary Dubai residential market has been a story of increased supply and unsold stock resulting in declining prices over the last three years. Soft price corrections
More informationSeptember 2016 RESIDENTIAL MARKET REPORT
September 2016 RESIDENTIAL MARKET REPORT The real estate investment market in Japan has had an abundance of capital (both domestic & foreign) over the past couple of years. This, along with the low (now
More informationMacquarie Mexican REIT
Macquarie Mexican REIT Fourth Quarter 2012 Results Presentation February 26, 2013 4Q12 Results Agenda 1. Overview Nick O Neil 2. Highlights & Portfolio Performance Jaime Lara 3. Financials Jaime Lara 2
More informationExtraordinary General Meeting 19 June 2012 ARA-CWT Trust Management (Cache) Limited KNOWING. BELIEVING. DELIVERING
Extraordinary General Meeting 19 June 2012 ARA-CWT Trust Management (Cache) Limited Important Notice This presentation does not constitute an offer, invitation or solicitation of securities in Singapore
More informationFOR SALE Former Bank Branch-8615 Collier Blvd.
FOR SALE Former Bank Branch-8615 Collier Blvd. NAPLES, FLORIDA 34114 PRESENTED BY Paul Rutledge First Vice President +1 813 273 8471 +1 941 228 2198 cell paul.rutledge@cbre.com Kelsey Cansler Sales Associate
More informationMapletree Industrial Trust to Grow Hi-Tech Buildings Segment with Acquisition and Upgrading of 7 Tai Seng Drive
(Constituted in the Republic of Singapore pursuant to a Trust Deed dated 29 January 2008 (as amended)) PRESS RELEASE Mapletree Industrial Trust to Grow Hi-Tech Buildings Segment with Acquisition and Upgrading
More informationWhen Will Singapore s Private Residential Leasing Market Turn Around? June 2016
When Will Singapore s Private Residential Leasing Market Turn Around? June 2016 Rents have been declining in all sub-markets The Urban Redevelopment Authority s (URA) rental index for private homes has
More informationThe Artisanal NEW WORLD. FY2017 Interim Results
The Artisanal NEW WORLD FY2017 Interim Results DISCLAIMER 2 DISCLAIMER- IMPORTANT NOTICE The information contained in these materials is intended for reference and general information purposes only. Neither
More information4Q & FY16/17 Financial Results
4Q & FY16/17 Financial Results 24 April 2017 Important Notice This presentation shall be read in conjunction with Mapletree Industrial Trust s ( MIT ) financial results for Fourth Quarter Financial Year
More informationPROPERTY INSIGHTS. Market Overview. Mixed outlook across all sectors. Singapore Quarter 3, Resale non-landed residential price indices
PROPERTY INSIGHTS Singapore Quarter 3, 2014 Market Overview Mixed outlook across all sectors Based on advanced estimates by the Ministry of Trade and Industry (MTI), the Singapore economy grew moderately
More informationNew Zealand Property Market Report
New Zealand Property Market Report August 20 Introduction What is the purpose of this report? This report is aimed at equipping you with the best and most up to date information to make sure you make the
More informationCPN Retail Growth Leasehold REIT
CPN Retail Growth Leasehold REIT Investor Presentation Opportunity Day 28 February 2018 Importance Notice The information contained in this presentation is for information purposes only and does not constitute
More informationHong Kong Prime Office Monthly Report. September 2011 RESEARCH NON-CORE DISTRICTS LEAD THE MARKET
RESEARCH September 2011 Hong Kong Prime Office Monthly Report NON-CORE DISTRICTS LEAD THE MARKET Sentiment in the office market remained mixed over the past month. The sales market was relatively quiet,
More informationHONG KONG Luxury Residential Monthly Report
RESEARCH January 2011 HONG KONG Luxury Residential Monthly Report Market regains momentum Hong Kong s residential sales market proved its resilience again last month, swiftly recovering from the impact
More informationDETACHED MULTI-UNIT APPROVALS
HIA New Home Sales DETACHED MULTI-UNIT APPROVALS SALES MULTI-UNIT DETACHED A monthly update on the sales of new homes December 217 TAX BURDEN TAKES TOLL ON New Home Sales during 217 Sales still post modest
More informationTotal building purchasing activity by sector (US$mn) Q Q Q Q3 2013
MARKETBEAT Investment Snapshot China 2016 17 May 2016 Contents Building transactions 2 Land transactions 3 Source of capital 5 Transactions between foreign entities 5 Outlook 5 Following a record-breaking,
More information仁恒置地集团 YANLORD LAND GROUP LIMITED. 2Q and 1H 2013 Results Presentation
仁恒置地集团 YANLORD LAND GROUP LIMITED 2Q and 1H 2013 Results Presentation 1 Presentation Content I. Key Financial Highlights II. Business and Operation Overview III. Outlook 2 Yanlord 2Q 2013 Business Review
More informationDomain House Price Report March Quarter 2016
Domain House Price Report March Quarter 2016 Dr Andrew Wilson Chief Economist for Domain Key findings Sydney median house price drops below $1 million House and unit prices are down in Sydney, Brisbane,
More informationCoreLogic RP Data November Rental Index Results
Rental Review Snapshot Released: December 3, 2015 Capital city rental growth lowest on record over the past twelve months Weekly rents across the combined capital city measure were unchanged in November
More informationCreswick Property Factsheet
Creswick Property Factsheet 1st Half 2018 OVERVIEW Creswick, located 129km north west of Melbourne is 430m above sea level. A population of 3,170 was recorded in the 2016 ABS census. The area provides
More informationWelcome to the Fall 2018 Breakfast Seminar
Welcome to the Fall 2018 Breakfast Seminar Richmond Hill Country Club June 7, 2017 Presented by: MCAP Development Finance Group AGENDA GTA Condo Market Outlook Presented by: Shaun Hildebrand, President,
More informationMacquarie Mexican REIT First Quarter 2014 Supplementary Financial Information
Macquarie Mexican REIT First Quarter 2014 Supplementary Financial Information Consolidated Income Statement Mar 31, 2013 Mar 31, 2014 Lease Rental Income 383.0 511.7 Tenant Recoveries 22.8 16.9 Other Income
More informationFourth Quarter FY2015 Financial Results. 28 August 2015
Fourth Quarter FY2015 Financial Results 28 August 2015 KEY HIGHLIGHTS 4Q FY2015 FINANCIAL HIGHLIGHTS Income available for distribution of RM30.8 million, +0.2% y-o-y DPU of 2.3258 sen, -6.4% y-o-y Revaluation
More informationOFFICE MARKET ANALYSIS
OFFICE MARKET ANALYSIS GEOFF FALKENBERG Oregon Association of Realtors Fellow In the U.S. and Oregon, the third quarter of 2013 saw office markets hit a plateau. Office deliveries are low, but the pipeline
More informationAS MERKO EHITUS Annual General Meeting of Shareholders. Nordic Hotel Forum, Tallinn 9 May 2018
AS MERKO EHITUS Annual General Meeting of Shareholders Nordic Hotel Forum, Tallinn 9 May 2018 1. Approval of the annual report of the year 2017 and overview of the economic results and outlook 2. Decision
More information