MQ REIT’s 4Q NPI falls 4.5% as expenses, finance costs rise
On prospect, MQ REIT said the office market is expected to remain challenging with the slowdown of the global and domestic economies, and low crude oil prices.
On prospect, MQ REIT said the office market is expected to remain challenging with the slowdown of the global and domestic economies, and low crude oil prices.
Despite the global consolidation of operations and restructuring exercise by multinational companies in Penang, such as those involving Seagate Technology Inc, Western Digital Corp and Intel Corp, the industrial sector in Penang has fared quite well over 2016.
Demand non-landed residential property has lost its momentum, with more new supply coming in over the next few years.
They are sized at 807 sq m with three bedrooms and two bathrooms and come with condominium standard facilities such as parking lots, playgrounds and kindergartens.
Outlook for the KL, Selangor office markets remain cloudy; retail sales growth to remain weak as consumers grapple with rising living cost and lower disposable income, says Knight Frank Malaysia.
Prices for the SoHo units with built-up sizes of 450 sq ft range from RM700 psf to RM750 psf while the retail units will be owned and rented out by EcoFirst.
Revenue for the quarter grew 6% to S$126.7 million, largely attributed to additional contribution from ART’s acquisition of Sheraton Tribeca New York Hotel in the US, which was completed in April 2016.
The trust declared a final income distribution of 3.73 sen per unit, payable on Feb 28.
The Waterside Residence is the first residential tower in The Light Waterfront Phase 2, with an estimated gross development value of RM240 million.
FY2016 hotel revenue declined 4% y-o-y due to the commencement of guest room refurbishment in the Mandarin Oriental (MO) and lower food and beverage contribution from rebranding of the Sultan Lounge and Casbah.