REITS

Parkway Reit to relook record $1.25b Novena bid

Parkway Life Reit, which derives its revenue from the rental of healthcare space, will make its own independent assessment whether to acquire a new hospital whose site its parent company Parkway Holdings made a record bid for. The $1.25 billion bid by Parkway Holdings - about five times that of rival Raffles Medical - for the Novena site on which the hospital will be built has raised concerns among...

Mapletree to handle JTC Reit

Expected to list on SGX by middle of the year. More than a year since its decision to divest its industrial properties, JTC corporation - Singapore’s biggest industrial landlord - has appointed Mapletree Investments to establish and manage a real estate investment trust (Reit). The Reit is expected to list on the Singapore Exchange by the middle of the year, subject to market conditions, said...

Property firms wary of acquisitions amid market uncertainty

Even as property prices come off their peaks, sector participants are keeping cautious, with Macquarie MEAG Prime Reit's manager becoming the latest to say it will hold off making acquisitions for now. The uncertain mood brought on by turbulence and volatility in financial markets is curbing enthusiasm for property around the world. "We have been shy of making acquisitions at the wrong price. So far, we...

Property players hold back

Companies wary of acquisitions amid market uncertainty EVEN as property prices come off their peaks, sector participants are keeping cautious, with Macquarie MEAG Prime Reit’s manager becoming the latest to say it will hold off making acquisitions for now. The uncertain mood brought on by turbulence and volatility in financial markets is curbing enthusiasm for property around the world. “We have...

MMP REIT reports full-year net income of S$76.8m

Macquarie MEAG Prime REIT (MMP REIT) has reported a full-year net income of S$76.8 million, boosted by a jump in its fourth-quarter earnings. The trust, which owns Ngee Ann City and Wisma Atria, said this is due to higher rentals, new leases and revenue from its acquisitions in Japan and China. Following the strong results, MMP REIT plans to distribute 6.19 cents per unit to its unit holders. The revamp of...

Ascott Residence Trust posts S$45.1m distributable income for 2007

Mainboard-listed Ascott Residence Trust has posted better-than-expected full year earnings with distributable income for 2007 came in at S$45.1 million, an 83 per cent jump year-on-year and 12 per cent higher than its own forecast. Key drivers for Ascott Residence Trust's good results were its strong overall operating performance and the acquisition of properties in Ho Chi Minh City, Manila, Melbourne and...

Mapletree Logistics books 78% jump in full year distributable income

Mapletree Logistics Trust has booked a 78% increase in distributable income for the year ended in December. Dictributable income came in at S$71.8 millions, beating its own forecast. Mapletree said distribution per unit for the whole year amounted to 6.57 cents, up 30% on year. Mapletree's portfolio is branching out to 75 properties across five countries. - CNA /ls Source : Channel NewsAsia - 23 Jan...

CapitaLand to invest over S$1b in 15 malls in India

CapitaLand is investing over S$1 billion in 15 malls across India through two joint ventures with Indian companies. The venture will be fully funded by the CapitaRetail India Development Fund, which is 45 per cent owned by CapitaLand. CapitaLand said it plans to duplicate its China strategy in India, which is to focus first on the gateway cities, including Mumbai, New Delhi and Bangalore, and then...

CapitaMall Trust reports Q4 distributable income of S$62.3m

CapitaMall Trust Management Ltd will pay S$62.3 million in distributable income, for the October-to-December period, or 2.34 Singapore cents per unit. This compares with the distributable income of S$52.3 million it paid a year ago. CapitaMall, which is 27-percent owned by Southeast Asia's largest developer CapitaLand, said its fourth-quarter distribution was 30 percent higher than forecast due to...

Parkway Reit debuts below offer price

One of the biggest initial public offerings (IPO) this year made a disappointing debut yesterday – a casualty of the uncertainties afflicting financial markets. Despite a generally upbeat stock market, Parkway Life Real Estate Investment Trust (Reit) opened trading in the afternoon session at $1.27, a cent below the offer price of $1.28, and steadily fell before ending at $1.19 a unit. Ms Daphne Roth,...

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