Global Logistic Properties (GLP), the real estate giant whose key shareholders include Singapore’s sovereign wealth fund GIC, has agreed to pay Brazil’s BR Properties 3.2 billion reais (S$1.7 billion) for property assets in the South American country. Singapore-based GLP is buying 34 industrial and logistics facilities in Brazil that will lead to a yield of 9.4 per cent, the company said yesterday...
REITS
Singapore's real estate investment trust (REIT) sector has been going through a rough patch. After seeing several bouts of sell-offs in 2013, the S-REIT index is now at its lowest level in almost one and a half years. But several REITs have reported record results this earnings season. Channel NewsAsia finds out if that could help boost sentiment in the sector. The latest REIT to list on the...
Keppel REIT, the second-biggest office property trust in Asia excluding Japan, is seeking buyers for its 30-storey Prudential Tower in Singapore’s financial district, Bloomberg News reported on Monday, citing two people familiar with the matter. Keppel REIT owns a 92.8 per cent stake in the tower, which was valued at S$490 million as of Dec 31 by independent valuers, according to the company’s...
OUE Commercial REIT is set to be the first major initial public offering (IPO) in Singapore this year. It will also be the first among a slew of trust listings -- including the ones planned by Korea's Lotte Shopping and Keppel's data centre unit -- that's headed for the Singapore bourse. Overseas Union Enterprise (OUE) has started taking orders for its S$400 million REIT listing. The IPO is priced...
CapitaLand, CapitaMalls Asia and CapitaMall Trust have signed an option to sell Westgate Tower for S$579.4 million. In a filing with the Singapore Exchange, CapitaLand said the option was granted to a consortium comprising Sun Venture Homes and Low Keng Huat (Singapore), which has up to January 24 to exercise it. Located at Jurong Gateway, Westgate Tower is the office component of the Westgate...
Singapore has been the largest initial public offering (IPO) market across Southeast Asia, raising S$6.2 billion year-to-date. Looking ahead, analysts expect a healthy pipeline of Business Trusts and real estate investment trusts (REITs) to list in Singapore in 2014, despite concerns over rising interest rates. Listing activity in other ASEAN markets such as Indonesia, Malaysia and Thailand is also...
Moody's Investors Service says the outlook is stable for Singapore's Real Estate Investment Trusts (REITs) sector in the year ahead. Based on a report released on Monday, the ratings agency says a larger asset base and rent increases on existing properties are expected to fuel growth for the 13 REITs it rated. It forecasts that the earnings before interest, taxes, depreciation and amortization...
Prices of Singapore Real Estate Investment Trusts, or S-REITs, have declined some 20 per cent year to-date from its peak in May as fears over rising interest rates dampened investor interest in this sector. However, some analysts say interest in the sector will return once S-REITS prove that they can mitigate rate risks. S-REITs have taken a hit since the US Federal Reserve hinted that it may start...
Singapore-listed real estate investment trusts (REITs) have paid out a whopping S$2.9 billion in total dividends over the last 12 months, according to the latest data from Singapore Exchange's investor education portal SGX My Gateway. Although REIT prices have taken a bit of a knock recently, analysts say they remain upbeat on the long-term investment prospects of SGX-listed REITs. In the last 12...
Viva Industrial Trust, a Singapore business and real estate trust, said on Monday it would be raising S$365 million through an initial share sale to Chinese property tycoon Tong Jinquan and the public, Bloomberg News reported. Mr Tong, the chairman of Shanghai Summit Property Development, will purchase S$200 million of shares in the initial public offering as a cornerstone investor, the trust said in...