ARA Asset Management's revenue, earnings sharply up in Q3
ARA Asset Management, a major real estate fund manager in the region, on Monday reported a 60 per cent increase in Q3 revenue to S$52.8 million.
The better topline was driven by higher management fees from Reits which had performed better and achieved higher valuations for their property portfolios, as well as fee contribution from acquisitions made by its Reits and funds.
ARA is managing eight Reits and seven private funds.
"Acquisition, divestment and performance fees for Q3 2014 were S$16.3 million, compared to S$0.6 million in Q3 2013," it said.
Net profit rose 53 per cent in tandem to S$30.7 million.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand