CapitaLand Mall Trust

CapitaLand Mall Trust and CapitaLand Commercial Trust unitholders vote in favour of proposed merger

Unitholders of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) on Tuesday voted "resoundingly" in favour of the proposed merger of CMT and CCT to form a new real estate investment trust (Reit), though CCT unitholders had lower percentage approvals than CMT unitholders. In a joint statement, the managers said more than 3,000 unitholders voted by proxy at CMT's extraordinary general...

CapitaLand Mall Trust buys 70% interest in Westgate for S$789.6m

Property developer CapitaLand on Monday said that it has agreed to sell to CapitaLand Mall Trust (CMT) its 70 per cent stake in Westgate – the retail component of an integrated retail and office development in Jurong - for S$789.6 million. This values a full 100 per cent stake in the development at S$1.128 billion, and translates to S$2,746 per square foot (psf). The sale will generate for...

CapitaMall Trust ups Q2 DPU after sale of Sembawang mall

Distribution per unit (DPU) at CapitaLand Mall Trust was up for the second quarter on a rise in net property income, the manager reported yesterday. Unitholders can look forward to a DPU of 2.81 cents for the three months to June 30, a rise of 2.2 per cent on the same period a year earlier, while distributable income advanced 2.9 per cent to $100 million. The retail Reit (real estate investment...

NTUC emerges as substantial shareholder of CMT

NATIONAL Trades Union Congress (NTUC) has emerged as a substantial shareholder of CapitaLand Mall Trust (CMT) after its stake in the retail Reit crossed 5 per cent last week. In a regulatory filing with the Singapore Exchange, CMT disclosed that NTUC's deemed stake went up from 4.9 per cent to 5.04 per cent on Jan 11 following the purchase of 5 million shares for S$10.07 million. CMT units closed 0.5...

CapitaLand Mall Trust to redevelop Funan DigitaLife Mall

Funan DigitaLife Mall on North Bridge Road - a shopping centre primarily known for shops selling computers and other electronic gadgets - will be closed from the third quarter of 2016, to be redeveloped into a "creative hub". The mall will be closed for about three years, said CapitaLand Mall Trust Management in a press release on Thursday (Dec 10). The real estate investment trust had hinted at such...

Two retail REITs report higher distributable income

Two key retail REITs in Singapore have reported higher distributable income to unitholders, on the back of steady tenant sales and rental income. Frasers Centrepoint Trust said its fourth-quarter distributable income was up 0.9 per cent to S$25.7 million, on the back of an average rental reversion of 7.1 per cent for the quarter. Meanwhile, CapitaLand Mall Trust said its third-quarter distributable...

CapitaLand Mall Trust sells Rivervale Mall for S$190.5 million

Rivervale Mall at Sengkang will soon have new owners, following CapitaLand Mall Trust's (CMT) decision to sell the property to a private equity fund managed by AEW Asia for S$190.5 million. CMT, which announced the sale on Thursday (Oct 15), said it will realise a gain of about S$72 million, after taking into account the divestment fee and other expenses. The property had been valued at S$116 million in...

CapitaLand Mall Trust to buy Bedok Mall for S$780m

CapitaLand Mall Trust (CMT), Singapore's largest shopping mall trust, will buy Bedok Mall from sponsor CapitaLand in a deal that values the mall at S$780 million. The 222,500 square foot Bedok Mall, which opened in December 2013, is part of an integrated retail-residential-transport development at Bedok Town Centre that includes the 583-unit condominium Bedok Residences developed by CapitaLand. The...

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