CapitaLand Investment Reports Marginal Dip in Q1 Revenue; Singapore Real Estate Updates
In the world of real estate, there’s always something happening. Today, leading headlines include the news that Temasek-controlled CapitaLand Investment has reported a marginal dip in first-quarter revenue. The real estate investment manager reported total revenue of S$650 million ($478 million) for the first quarter of 2024, down 0.2 percent from the year-earlier period. Despite this dip, CapitaLand Investment described its performance as “stable” on a year-on-year basis.
Meanwhile, Singapore’s URA has reported rising private home prices, with prices in the private residential property segment increasing by 1.4 percent in the first quarter of 2024. This follows an increase of 2.8 percent in the previous quarter. On the international front, Singapore-listed Far East Orchard has made a move to diversify its portfolio by acquiring a 49 percent stake in UK student housing operator Homes For Students Ltd for £17.6 million ($22 million).
In another exciting development, Hong Kong home prices have risen for the first time in 11 months after the city removed property curbs, sparking renewed interest in the market. The price index for private domestic homes increased by 1.06 percent from February, marking a significant turnaround from 10 consecutive months of decline.
Additionally, KKR has raised an impressive $11 billion for its latest global infrastructure fund, exceeding more than half of its target. Blackstone has also made headlines by agreeing to sell a student housing portfolio to KKR for $1.64 billion, showcasing the dynamic nature of real estate investment at a global level.
As the real estate market continues to evolve and adapt to changing economic conditions, stay tuned for more updates and follow @Mingtiandi on social media for the latest headlines as they happen.
