Mapletree Logistics Trust has booked a distributable income of S$21 million for the first quarter, up 37 percent compared to a year ago. Mapletree Logistics will distribute 1.90 Singapore cents per unit for the first quarter, up from 1.48 Singapore cents a year earlier. Net property income rose 45 percent on-year to S$37.4 million, while gross revenue shot up by 48 percent on-year to S$42.6...
REITS
Mainboard-listed Ascott Residence Trust (ART) has posted a first quarter distributable income of S$14.2 million, up 76 per cent compared to the same period a year ago. ART said it benefited from higher demand for accommodation from business travellers in the region. It also attributed its strong financial performance in the first quarter to the improved operating performance of the properties and...
Mainboard-listed Ascott Residence Trust (ART) has posted a first quarter distributable income of S$14.2 million, up 76 per cent compared to the same period a year ago. ART said it benefited from higher demand for accommodation from business travellers in the region. And going forward, it expects to see stable growth as it maintains a balance of properties in both developed and emerging markets in the...
Volatile capital markets cited as main reason JTC Corp has scrapped plans to divest a large chunk of its industrial property portfolio through a listed real estate investment trust (Reit). Instead, it will sell the 62 properties for $1.71 billion to Temasek-linked Mapletree Investments, which it had earlier appointed to manage the planned trust. This is because of recent weak stock market...
JTC Corporation and Mapletree have cancelled plans to list a real estate investment trust due to current volatile market conditions. Instead, JTC will divest the S$1.71 billion real estate portfolio to a private trust sponsored by Mapletree. This divestment option was part of Mapletree's proposal to JTC, when Mapletree was appointed by JTC as the REIT manager for the selected portfolio in February this...
CapitaMall Trust has booked a first quarter distributable income of S$58 million, up 24 per cent compared to a year ago. The growth was driven by higher rental rates on new and renewed leases for most of its malls. For the first quarter ended March 31, the property trust will distribute 3.48 Singapore cents per unit, up from the three cents distributed in the same period last year. CapitaMall Trust said...
K-REIT Asia has booked a first quarter distributable income of S$11.4 million, up 166 per cent from the same period a year ago. The jump was mainly due to contributions from its one-third interest in One Raffles Quay, which was acquired in December 2007. K-REIT said it saw strong rental and occupancy rates. The company is hoping to raise almost S$552 million through a rights issue in March. Proceeds of...
Ascendas Real Estate Investment Trust (A-REIT) has posted a 14.3 percent rise in full-year earnings to S$187.3 million. Revenue jumped by 13.9 percent to S$322 million. A-REIT has also reported strong occupancy rates for its portfolio. Overall occupancy rates stood at 98.4 percent at the end of last month. The industrial trust said organic growth and investments will continue to be the main income...
Business space solutions provider Ascendas is investing in North India with a proposed integrated development project in Gurgaon. It has set up a joint venture with Dr Fresh Healthcare to develop a 62-acre integrated business and residential project. The two parties are committing a total of S$560 million in investments for the joint venture. Ascendas will own a 51 percent stake, while the rest will be...
Parkway Life REIT has bought a pharmaceutical product distributing facility in Japan's Chiba prefecture for S$35 million. The trust says the investment is yield-accretive, with a net initial yield of 5.3 per cent. The facility, called J-REP Matsudo II, will also be used for manufacturing pharmaceutical products. The investment is Parkway Life REIT's first overseas venture and comes just seven months...