Mapletree Commercial Trust said yesterday it agreed to buy Mapletree Anson for S$680 million from a wholly-owned unit of its sponsor Mapletree Investments. Mapletree Anson, is a 19-storey premium office building in the CBD, with a 99-year lease beginning from October 2007. It has a gross floor area of 383,812 sq ft and net lettable area of 331,854 sq ft. Source : Today - 4 Dec...
REITS
Far East Orchard - a unit of Far East Organization, Singapore's largest privately held developer by assets - said on Monday it planned to buy Straits Trading Co's hospitality management business and stakes in the company's hotel assets, Dow Jones Newswires reported. Far East Orchard said it signed a non-binding memorandum of understanding with Straits Trading for the proposal, which also involves...
Singapore real estate investment trusts (S-REITs) continue to attract investors as they provide better returns than most of their regional peers while also outperforming stock market returns, according to a report by Asia Pacific Real Estate Association (APREA). Findings of the report, which analyzed seven REIT markets in Asia up to April 2012, indicate an average 6.39 per cent dividend yield from...
Singapore-listed Global Logistics Properties (GLP) says it will raise S$414.4 million (US$339 million) in gross proceeds by issuing new shares through a private placement. GLP will issue 160 million new shares at S$2.59 to partly fund its acquisition of Brazilian logistic assets. The company said on Wednesday that it would form joint ventures with the Canada Pension Plan Investment Board, China...
Singapore Real Estate Investment Trusts (S-REITs) have outperformed the STI significantly as at end-October this year. And some investors are expecting the good run to continue, driven by capital inflows from stimulus measures in the US. But some analysts warn that the performance of S-REITs may have peaked. Market volatility and economic uncertainties are expected to continue to drive demand for REITS...
Asia's largest logistic facilities provider, Global Logistics Properties (GLP), will contribute 30 properties in Japan to set up a real estate investment corporation in Japan (J-REIT). The properties are worth US$2.6 billion (S$3.2 billion) and GLP expects to raise a net US$1.3 billion (S$1.6 billion) from the sale of the assets. In a statement on Thursday, GLP says the proceeds will be used primarily...
The Singapore real estate investment trust (REIT) market is up about 40 per cent this year -- double the returns in major REIT markets like the US and Japan. While returns and yield spreads on Singapore REITs may be the best in the world, some analysts said the market could become over-invested In 2002, CapitaMall Trust became the first Singapore-listed REIT. A decade on, there are over 20 REITs across...
Dynasty REIT's planned initial public offering (IPO) in Singapore has been suspended. ARA Asset Management, the sponsor of the real estate investment trust (REIT), said the S$1 billion (5.41 billion yuan) IPO would not proceed due to worsening market conditions. According to ARA, there has been a marked change in investor sentiment given the after market performance of several IPOs. Fund managers...
Soon-to-be listed Dynasty REIT says it expects to benefit from the granting this month of Singapore banking licences to two Chinese lenders. Dynasty is Singapore's first real estate investment trust to be denominated in the Chinese currency (CNY). It is set to go public next Tuesday in what may be the country's biggest IPO this year. Dynasty REIT aims to raise between S$981.3 million and S$1 billion...
Dynasty Real Estate Investment Trust (REIT) opens its yuan-denominated initial public offering today in Singapore's first flotation to be sold in the Chinese currency, seeking to raise up to 5.4 billion yuan or S$1 billion in what is set to be the largest new share sale here this year. Units in the trust, backed by Hong Kong billionaire Li Ka-shing and sponsored by ARA Asset Management, will be tradeable...