CapitaMall Trust Management said its distribution per unit (DPU) for the first quarter stood at 2.29 Singapore cents. That is up three per cent from the 2.23 Singapore cents reported in the same period a year ago. The trust said that this is largely due to contributions from Clarke Quay, which was acquired in July 2010, as well as robust rental renewals. Net property income for the quarter ended March...
REITS
Ascott Residence Trust said its distribution per unit rose 29 per cent to 2.14 Singapore cents in the first quarter. That is mainly due to contributions from the 28 properties acquired by Ascott Reit last year. The real estate investment trust said that revenue for the first quarter climbed 55 per cent to S$67.3 million. It expects to deliver the forecast distribution of 7.74 Singapore cents for the...
CapitaCommercial Trust (CCT) and its parent company CapitaLand plan to jointly develop Market Street Car Park into a office tower. The project cost is estimated to be about S$1.4 billion. In a joint statement, both companies said that based on this figure, the development is considered financially viable. The stabilised yield from the completed development is expected to exceed 6 per cent per...
Ascendas Real Estate Investment Trust (A-REIT) has posted a full-year distribution per unit of 13.23 cents, which is a one per cent increase from a year ago. A-REIT said the total amount available for distribution was up by 5.6 per cent to S$248 million. Gross revenue rose 8.2 per cent to S$447.6 million, contributed mainly by new investments and increase in occupancy rates. However, the increase was...
Mapletree Commercial Trust (MCT) has launched its initial public offering of more than 712 million new shares on the Singapore Exchange. The IPO is priced at 88 Singapore cents a share and the firm is expected to raise S$893 million in net proceeds. The trust could potentially raise up to S$983 million if the Over-Allotment Option is exercised in full. The proceeds will be used to pay for the...
Mapletree Commercial Trust is set to raise at least $898 million in an initial public offering in Singapore after pricing the IPO slightly above the mid-point of an indicative price range, a source with direct knowledge of the deal said. The trust, managed by Singapore state investor Temasek’s property arm, priced the IPO at $0.88 a unit against an earlier indicative price range of $0.84-$0.91, the...
Hong Kong billionaire Li Ka-shing's Hui Xian real estate investment trust (REIT) said it plans to add more China-based properties to its current portfolio after its initial public offering (IPO). The REIT which launched its IPO on Monday will be the first yuan-denominated listing outside of China. It is expected to start trading on the Hong Kong Stock Exchange on April 29. Hui Xian REIT, part of Cheung...
K-REIT Asia said it will distribute 1.79 cents for its distribution per unit (DPU) for the first quarter of 2011. This is a 34.6 per cent increase from the same period a year ago. Distributable income for the group grew by 36.1 per cent year-on-year to S$24.3million due to contributions from newly acquired assets, the Trust said. This brings the annualised distribution of the REIT to 7.26 cents per...
Shopping mall developer and operator CapitaMalls Asia has signed an agreement with Japan's PARCO to explore business collaborations in China and Japan. PARCO owns 20 malls in key Japanese cities including Tokyo, Osaka, Nagoya, Fukuoka and Sapporo. It also manages one property in Singapore's Marina Bay area. CapitaMalls Asia has been bringing Japanese retailers to its other markets outside Japan. It...
Mapletree Commercial Trust, which last month delayed its initial public offering (IPO), said it is now going ahead with the deal to raise as much as S$648.7 million. The trust on Wednesday lodged its prospectus with regulators, offering 712.9 million shares at S$0.84 to S$0.91 per unit. Mapletree Commercial Trust had earlier delayed its IPO due to market volatility caused by Japan's earthquake and...