Far East Hospitality will be unveiling two new hotels in Singapore come 2013. This is part of its plans to double its property portfolio in the next five years. The hospitality operator currently manages eight hotels and nine serviced residences in Singapore. It also oversees the Sri Tiara residences in Kuala Lumpur, Malaysia. East Village Hotel in the Katong district and The Amoy Hotel at Far East...
REITS
Mapletree Logistics Trust (MLT) saw a 1.2 per cent on-year increase in its distribution per unit (DPU) in the second quarter of its financial year. Its DPU for the three months ended 30 September 2012 came in at 1.71 cents, up from the 1.69 cents announced in the same period a year ago. Amount distributable to unitholders during this period rose by 1.2 per cent on-year to S$41.4 million. Gross revenue...
The Ascott, the serviced-apartment arm of CapitaLand, is considering listing a China-focused real estate investment trust (REIT) to fund its expansion in the world's second-largest economy. Ascott Chief Executive Chong Kee Hiong said in an interview with Dow Jones Newswires: "We continue to like China, although we would have to wait for good opportunities in first-tier cities. We also like the second- and...
A real estate investment trust backed by Hong Kong tycoon Li Ka-shing announced Wednesday it hopes to raise around US$800 million in a yuan-denominated initial public offering in Singapore. The offer by Dynasty REIT will be the first yuan-denominated flotation in the affluent city-state and the second outside mainland China. Dynasty REIT, which is sponsored by real estate fund manager ARA Asset...
The Republic's real-estate investment trusts (REITs) could be a better bet in the coming months for investors looking for exposure to the property sector but are nervous about the possibility of more cooling measures, according to some analysts. "In view of the impact of cooling measures, we believe investors will remain defensive with stock picks towards the year-end. That's why for the fourth quarter,...
When real estate investment trusts (REITs) in Singapore need capital for an asset acquisition or expansion, they normally turn to the equity market to raise funds through a secondary share placement or a rights issue. For this reason, REITs have earned the reputation for asking back what they have given to shareholders. REITs are highly sought-after investments because they generate high dividends. For...
Industrial real estate investment trusts (REITs) remain attractive investments, OCBC Investment Research said yesterday as it kept its "overweight" call, citing their healthy debt maturity profiles, increased investment activity and high yields. In OCBC's research update, analysts Kevin Tan and Eli Lee said that industrial landlords continued to be very engaged in their capital management...
Real estate management firm ARA Asset Management (ARA) has received approval from the Singapore Exchange (SGX) to list a yuan-denominated real estate investment trust (REIT) in the city state. The Dynasty Real Estate Investment Trust (Dynasty REIT) will be the first share sale in Singapore to be denominated in the Chinese currency. It will also be the second initial public offering (IPO) denominated in...
Hotel and serviced residence owner Far East Hospitality Trust aims to tap South-east Asia's booming tourism demand and grow its portfolio value by 50 per cent over the next two years. Far East Hospitality expects to acquire a hotel and two serviced residences - Orchard Parksuites and Orchard Scotts Residences - from its sponsor Far East Organisation within the next 24 months, increasing its portfolio by...
Shopping mall developer CapitaMalls Asia is acquiring its third mall in Wuhan, China. On a completed basis, the investment cost of the shopping mall is expected to be about S$228.3 million (RMB1,156 million/HK$1,413.5 million) The developer had acquired the mall from a subsidiary of a state-owned construction enterprise, China Railway Construction Corporation Limited (CRCC). Scheduled to be completed in...