Capitacommercial Trust Stays Execution Of Market Street Carpark
The manager of CapitaCommercial Trust has deferred a decision on redeveloping Market Street carpark.
CapitaCommercial Trust Management said the decision will be made not earlier than mid-2009.
CapitaCommercial Trust said in January that it was granted an Outline Planning Permission (OPP) was granted by the Urban Redevelopment Authority (URA) for the redevelopment of the property into a Grade A office building.
The CEO of CapitaCommercial Trust Management said it deferred the decision due to the significant size of the project, rising construction costs and the currently volatile financial markets.
If CapitaCommercial Trust had gone ahead with redeveloping the Market Street carpark, it would have been its second time in just two years. Tearing down the place to build a spanking new office building would have meant a waste of S$14 mln.
Mark Laudi has touched on this subject of redeveloping the Market Street Car Park in January:
http://investorcentral.blogspot.com/2008/01/market-street-carpark-wasted-s14-mln.html#links
Analysts surveyed by Reuters have on average an OUTPERFORM call on the stock with a price target of S$2.655, compared to its last traded price of S$2.20.
As always, please see your licensed financial advisor before making any investment decisions.
ArchivesCapitaCommercial Trust Management said the decision will be made not earlier than mid-2009.
CapitaCommercial Trust said in January that it was granted an Outline Planning Permission (OPP) was granted by the Urban Redevelopment Authority (URA) for the redevelopment of the property into a Grade A office building.
The CEO of CapitaCommercial Trust Management said it deferred the decision due to the significant size of the project, rising construction costs and the currently volatile financial markets.
If CapitaCommercial Trust had gone ahead with redeveloping the Market Street carpark, it would have been its second time in just two years. Tearing down the place to build a spanking new office building would have meant a waste of S$14 mln.
Mark Laudi has touched on this subject of redeveloping the Market Street Car Park in January:
http://investorcentral.blogspot.com/2008/01/market-street-carpark-wasted-s14-mln.html#links
Analysts surveyed by Reuters have on average an OUTPERFORM call on the stock with a price target of S$2.655, compared to its last traded price of S$2.20.
As always, please see your licensed financial advisor before making any investment decisions.
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