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For the latest 3Q19 ended June, FCT saw its income available for distribution rise 12.4% to $31.8 million, even as net property income dipped 1.1% to $34.6 million on the back of higher property expenses.
The higher expense arose from the absence of property tax refund which occurred in the same period a year ago.
FCT’s bottomline during the quarter was boosted by an $8.3 million fair value gain on the acquisition of an associate, as well as a $5.5 million increase in share of associates’ results from operations.
The latest Property News from Singapore
- Single operator to be appointed for integrated management of Bugis Village and Bugis Street to enhance vibrancy of precinct
- Non-landed residential DC rates trimmed 0.3% after September review
- End ‘discrimination’ against single unwed parents; help those under 35 to get housing: MP Louis Ng
- Property: What happens to the HDB flat after the owner passes on?
- Users of PMDs, bikes and PABs who ride at HDB void decks in 15 estates may be fined up to $5,000
The most interesting Real Estate happenings in Asia
- 91% of Luxus Hills development sold during weekend preview
- FCT acquisitions to boost growth: analyst
- Asia should fix its mega cities, not move them
- Geylang shophouses for sale at S$40-42m; Joo Chiat shophouses put on market for S$7-7.5m
Property investment is Singapore: is it worth it?
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