Frasers Centrepoint Trust (FCT), a wholly-owned unit of Fraser and Neave Group, will acquire Bedok Point Mall from its parent company by Q2 next year, said Chew Tuan Chiong, chief executive of FCT. In January, FCT paid Frasers Centrepoint approximately $290 million for two malls, the YewTee Point at Choa Chu Kang and an extension to Northpoint at Yishun through the issuance of new units and taking on more...
REITS
Frasers Centrepoint Trust (FCT) has announced its full-year distribution per unit (DPU) of 8.2 cents. That's 9.2 per cent higher than the DPU of 7.51 cents achieved in the previous financial year. Distributable income for the year ended September 30 rose 26.1 per cent to S$59.1 million. Net property income jumped 33.7 per cent to S$80 million. FCT said the increase in revenue was boosted by the...
Suntec Real Estate Investment Trust (Suntec REIT) is acquiring a one-third stake in Marina Bay Financial Centre for S$1.5 billion. Under the transaction, Suntec REIT will purchase Marina Bay Financial Centre Tower 1 and 2, the Marina Bay Link Mall and 695 car park lots. The REIT has entered into a conditional share purchase agreement for the property with Choicewide Group Limited, Cavell Limited and...
Starhill Global REIT on Tuesday said that its distribution per unit (DPU) for the third quarter improved by 5.3 per cent. It announced a DPU of 1 cent, up from the 0.95 cent declared in the year-ago period. Distributable income rose by 5.8 per cent on-year to S$19.4 million, while net property income was up by 37 per cent on-year to S$35.8 million. Starhill said the improvement in net property income is...
Singapore's real estate investment trusts (REITs) have risen more than 140 per cent since March 2009 and their value could go up by another 60 per cent, according to analysts. REITs are currently offering juicy yields, which may start looking less attractive to investors when Singapore government bond yields start to climb higher. Even then, analysts said there still are some standout performers among...
Ascendas India Trust today reported total property income for 1H FY2010/11 ending Sept 30, 2010, was $60.5 million, an increase of 1% from the same period last year. Net property income was $37.1 million, or marginally lower by 1%. In Indian Rupee terms, total property income was 2% higher, while net property income was unchanged in 1H FY2010/11, compared to the year before. For 2Q FY2010/11, total and...
Frasers Commercial Trust has posted a 55 per cent increase in its fourth-quarter distribution per unit to 0.31 cents. This is in line with its higher distributable income which rose 78 per cent to S$14.2 million. For the three months ended September 30, Frasers saw net property income rise by 16 per cent to S$23.2 million. Revenue increased 14 per cent to S$29 million. This was partly due to better...
Ascott Residence Trust (Ascott Reit) on Friday said its its third-quarter distribution per unit (DPU) dipped 4 per cent on-year to 1.85 Singapore cents. This is compared to 1.92 Singapore cents for the same period a year ago. Ascott Reit said this is due to the some 420 million new units issued in September this year to fund the acquisition of 28 properties in Asia and Europe. It added that excluding...
Mapletree Logistics Trust's third quarter distribution per unit (DPU) has seen a 4.1 per cent increase to 1.54 cents, higher than the 1.48 cents reported last year. Mapletree Logistics' distributable income rose by 9.5 per cent on-year to S$31.5 million. Its net property income also went up by 8.1 per cent on-year to S$47.6 million. The trust says its actual cumulative DPU pursuant to its equity fund...
Mapletree Industrial Trust made a sparkling debut on Thursday, surging as much as 29 percent above its IPO price as investors were drawn by its high dividend yield amid rock-bottom interest rates. Units of Mapletree Industrial, which owns factories and other industrial properties in Singapore, opened at S$1.15 a unit against an IPO price of S$0.93. It rose as high as S$1.20 a unit. Mapletree's S$940...