The manager of mainboard-listed Cambridge Industrial Trust (CIT) has received a formal notice from the Singapore Land Authority on the compulsory acquisition of land that will affect its properties. CIT said the compulsory acquisition of land along Tuas Road is for the construction of Tuas West Mass Rapid Transit extension and several road works. Based on its initial assessment, CIT said three of its 43...
REITS
At least seven real estate investment trusts (REITs) that could raise around $4 billion are expected to make their debut on the Singapore Exchange this year. Analysts expect further upside for REITs and said more of them will likely ride the momentum and issues as big as last year's two mega-IPOs could be in the pipeline. One of these is the Mapletree Commercial Trust to be launched sometime in late...
A unit of CapitaMalls Asia will sell up to S$200 million in bonds to retail investors to fund its investments. Part of the funds raised will also be for general corporate purposes, the shopping mall developer said in a filing to the Singapore Exchange. CapitaMalls Asia Treasury also announced that it will sell one-year bonds carrying an interest coupon of 1 per cent a year. In addition, it will also sell...
Global Logistic Properties (GLP), which recently made two significant acquisitions in China, plans to expand further in China and Japan as well. Analysts, however, say that managing assets across two of Asia's largest markets could pose a management challenge. Shares in GLP closed almost one per cent higher yesterday, a day after the firm, partly owned by the Government of Singapore Investment Corp, said...
Shares of Global Logistic Properties (GLP) gained on the Singapore Exchange, closing 0.93 per cent higher at $2.16 on Wednesday. Investors were cheered by news that it was acquiring a 53 per cent stake in Airport City Development, developer of the Beijing Capital International Airport's cargo handling area. Analysts see the acquisition as a positive for the Singapore-listed warehouse company as China's...
The former head of CapitaMall Trust is reportedly planning to launch an initial public offering (IPO) of a real estate investment trust (Reit) in Singapore to raise $1 billion. The Reit will be floated under Perennial Real Estate - the firm established by Mr Pua Seck Guan, who left CapitaMall Trust in 2008 - and will consist of Chinese assets, according to a Dow Jones report. Quoting a person familiar...
Global Logistic Properties (GLP), a unit of the Government of Singapore Investment Corp, is in talks to acquire a majority stake in China's Airport City Development, people familiar with the matter said yesterday. Airport City Development, which is 40 per cent-owned by Beijing Capital International Airport (BCIA), is the sole developer of air cargo handling and bonded warehouse logistic facilities for...
Singapore-listed real estate investment trusts (Reits) are shaping up to be among the top choices for investors in the new year. Thanks to the improved economy and low interest rates, Reits have refinanced their debt and made aggressive acquisitions this year. Their overall business has also strengthened on the back of rebounding rental rates. The FTSE ST Reits index, which measures the value of 17...
Singapore's healthcare real estate investment trust First REIT on Friday said it has completed the acquisition of two Jakarta hospitals. The two new Indonesian healthcare properties include the Mochtar Riady Comprehensive Cancer Centre as well as Siloam Hospitals Lippo Cikarang, a six-storey hospital that began operations in 2002. With these acquisitions, First REIT said it has crossed a significant...
Property developer GuocoLand Ltd said it currently has no plans to launch a real estate investment trust (REIT). GuocoLand, led by Malaysian tycoon Quek Leng Chan, made the statement in response to an article in the Business Times newspaper which said the developer was planning to start two REITs that would hold assets of between S$6 billion and S$8 billion in Singapore, China, Malaysia and Vietnam. The...