Keppel Telecommunications & Transportation (Keppel T&T) is planning to list Keppel DC REIT on the Mainboard of the Singapore Exchange (SGX). Keppel T&T Chief Executive Officer Thomas Pang said on Monday (Nov 10): "There has been a surge in demand for data centres, driven by a growth in e-commerce, cloud computing, and big data. “Increasingly, these new generation data centres are also required to...
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Some developers say they will hold back on bidding for new executive condominium (EC) sites in the future unless they have very good potential, as the risk profile of ECs has gone up following a series of new restrictions imposed by the Government. According to Evia Real Estate, which is jointly developing the Lake Life EC in Jurong, the segment now poses higher risks to developers. Mr Vincent Ong,...
Keppel Land said on Monday it has increased its share of a joint venture housing project in southern Vietnam by buying a 43 per cent effective stake in the project's phase two and three development. The Singapore developer will pay around US$11.5 million to raise its stake in the remaining phases of the Estella -- a high-rise residential development with a retail component -- to 98 per cent from 55 per...
Frasers Centrepoint Ltd's (FCL) bid to buy Australand Property Group in a deal worth around A$2.6 billion has been accepted by directors of the Australian company, the Singapore real estate giant said in a filing on the Australian stock exchange. FCL's offer of A$4.48 per Australand security was unanimously accepted by the Australian company's board in the absence of a superior proposal. An independent...
Hyflux is selling its eponymous Hyflux Innovation Centre at Bendemeer Road to Ascendas Real Estate Investment Trust (A-Reit) for S$170 million in cash and will lease the property back for 15 years, the water treatment specialist said yesterday. The deal, inked with HSBC Institutional Trust Services (Singapore) as trustee of A-Reit, will net a gain of about S$84 million over book value, rental support,...
The Republic has taken significant steps to remain competitive and companies that want to expand here will have sufficient space to grow, Deputy Prime Minister Teo Chee Hean said on Friday (June 20). Speaking at a luncheon that followed the annual general meeting of the Singapore International Chamber of Commerce, Mr Teo said the Government hopes to see more companies use Singapore as a base to seize...
Frasers Hospitality Trust (FHT) has priced its upcoming initial public offering (IPO) at S$0.88 per stapled security, giving investors who buy into the offer an indicative yield of 7 per cent per annum. According to a draft prospectus filed on the Monetary Authority of Singapore's (MAS) website on Monday (June 23), Frasers Hospitality will sell 182.1 million stapled securities at S$0.88 apiece in its...
Singapore property giant CapitaLand has crossed the shareholding threshold that will allow it to compulsorily acquire the remainder of CapitaMalls Asia (CMA). As at 5pm on 6 June, CapitaLand and concert parties own or have agreed to buy 97.1 percent of CMA's issued share capital -- above the 97.02 percent level that will allow the compulsory acquisition, a spokeswoman said on Sunday. CMA shares will...
A growing number of local property developers are seeking opportunities abroad. Frasers Centrepoint is the latest to enter the fray after submitting a proposal for a takeover of Australian developer Australand. Industry experts said that is because local players have accumulated strong cash balances and are looking for opportunities abroad as cooling measures weigh on the local property...
CapitaLand on Thursday (June 5) announced that it holds more than 90 per cent of the issued shares of CapitaMalls Asia (CMA) - crossing the threshold it needs to delist its shopping mall arm. CapitaLand said in a press release that it has submitted an application to the Singapore Exchange to delist CMA, and CMA shares will be suspended from trading after on June 9, the close of its offer to buy out...