M&L Hospitality Trusts, which last year put its planned initial public offering in Singapore on hold due to subdued demand, is reviving its listing plans, the Dow Jones news agency reported, citing people with knowledge of the deal. The property trust, which owns hotels in Singapore, Australia and Japan, is said to be considering an IPO to raise as much as US$500 million (S$635 million), the report...
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With major Singapore developers like CapitaLand and City Development warning that the Singapore's real estate market will face headwinds in the near term, many of Singapore's small and medium-sized developers are looking overseas for new growth frontiers. Developer TEE Land recently announced new developments in Malaysia, Thailand and New Zealand. It attributes 25 per cent of the company's revenue...
Private equity firm Northstar Group, which has led a management buyout of the ERA Real Estate franchise here, said yesterday it aims to list the property brokerage on the Singapore Exchange within the next two to three years, moves that signal growing interest in the city’s real estate market. If successful, it would be the first listing by a real estate brokerage in the city, a spokesperson from the...
Singapore developer Soilbuild Group Holdings launched yesterday a S$457.5 million initial public offering of its business space assets, pricing its units at S$0.78 apiece, the lower end of its indicative range. The IPO comes two weeks after two real estate investment trusts had somewhat mixed fortunes on their debut, with SPH REIT gaining 9 per cent but OUE Hospitality Trust ending flat. Soilbuild...
ERA Realty Network, the largest real estate agency in Singapore, has been sold to Indonesian private equity firm Northstar Group for over S$100 million, months after owner Harry Chua put it up for sale. According to media reports, the master franchise rights to the ERA name in Asia Pacific was sold for less than the S$150 million price tag that Chua's Hersing Corporation is said to have asked...
Executives at Suntec Real Estate Consultants have their eyes set on increasing the company’s presence in Asia and are banking on the Singapore brand to make a name in developing countries that offer the potential for higher returns. Formerly known as Chesterton Suntec International, the company was renamed after its majority shareholder, Suntec Investment, bought over the company fully from partner...
Companies are again rushing to list real estate and other assets in Singapore, with billions of dollars in deals that are putting the city-state on track for its best year for initial public offerings. The firms are listing in the form of trusts, which investors find attractive because they pay high returns and assured dividends. In the past week, two real estate investment trusts (REITs) raised more...
Sentiment within the real estate market has been hit hard by various cooling measures implemented by the government, with industry players anticipating an unfavourable business climate for the rest of the year. A net weighted balance of 41 per cent of property firms surveyed by the Department of Statistics expect business to slow down in the second half of the year, due to the recent implementation of...
Developer Soilbuild Group Holdings is looking to raise as much as S$643 million in an initial public offering (IPO) of its industrial and business properties. Soilbuild Business Space REIT (Soilbuild REIT) will be offering 586.5 million units at an indicative price range of 77 cents to 80 cents per unit, according to a preliminary prospectus filed with the Monetary Authority of Singapore (MAS). 499...
CapitaMalls Asia reported a profit after tax and minority interest (PATMI) of S$245.6 million in the second quarter of 2013. This marked a 5.9 per cent growth over the previous year. According to CapitaMalls Asia, its improved profitability was due to contributions from new malls, asset enhancement initiatives and acquisitions of stakes in four Japan malls in 2012, as well as profit recognition for...