Ratings agency Moody's Investors Service on Monday (Oct 13) said regulatory proposals to tighten Singapore's Real Estate Investment Trusts (S-REITs) are "credit positive". The US-based firm added that the regulatory proposals by the Monetary Authority of Singapore (MAS) would foster financial discipline, enhance corporate governance and strengthen investor confidence. The proposed changes include...
Singapore REITS
In Asia’s real estate market, deal-making just reached a record and more is to come, with undervalued Singapore-listed trusts expected to become takeover targets. Property deals in China and its neighbours amounted to US$34 billion (S$43.2 billion) last quarter, Bloomberg data show, a tally that includes the 10.6 trillion won (S$12.6 billion) purchase of a site in Seoul’s Gangnam district by a...
The Monetary Authority of Singapore (MAS) has proposed changes to the regulatory framework for real estate investment trusts (REITs), including a relaxation of borrowing limits for these property investment vehicles. Other proposed changes include tougher disclosure standards and letting REITs get more involved in development projects, MAS said in a consultation paper released on Thursday (Oct...
Ascendas Hospitality Trust is in talks with a number of parties to sell the Pullman Cairns International hotel, the largest five-star hotel in the Australian city's central business district. The hospitality real estate investment trust said on Wednesday (Sep 24) that the potential sale of the Cairns hotel is in line with its strategy of considering whether assets are ready for divestment to free up...
Far East Hospitality Trust will take a 30 per cent stake in a S$443.8 million hotel project being developed by its parent organisation on the resort island of Sentosa, the hotel real estate investment trust said on Monday. In March this year, Sentosa Development Corporation awarded a tender for a heritage hotel site at Artillery Avenue, Sentosa to a unit of Far East Organization, the Singapore-based...
Keppel REIT will buy a one-third stake in Marina Bay Financial Centre (MBFC) Tower 3 for S$1.25 billion from Keppel Land, in one of the largest property market deals this year. The price, which works out to around S$2,790 per square foot, is based on independent valuations by property consultancies Cushman & Wakefield and Savills. Keppel REIT will pay for the property through a mix of cash and new units...
The softening retail market in Singapore could start to hurt retail landlords and retail tenants. They have to cope with higher costs arising from restrictions on foreign labour, and at the same time battle slowing sales, as a result of falling local and tourist spending. To make the outlook even tougher, new mall supply is coming on over the next two years. Analysts said these factors have made it more...
Far East Hospitality Trust, a Singapore-focused hotel and serviced residence property trust, will pay 13.3 per cent less in distribution per stapled security as occupancy at its hotels fell amid a plunge in visitor arrivals from China. Far East Hospitality, whose properties include Rendezvous Hotel and Village Hotel Albert Court, will pay 1.24 Singapore cents per stapled security for the quarter ended...
Moody's Investors Service says that a healthy operating environment and manageable refinancing risk continue to support the stable outlook for the Singapore Real Estate Investment Trust (S-REIT) sector. Moody's rates 17 S-REITs, of which 16 carry stable outlooks. The exception is Mapletree Commercial Trust, whose Baa2 rating carries a positive outlook. Jacintha Poh, a Moody's assistant vice president...
Real Estate Investment Trusts (REITs) may have a “signalling effect” on retail rents in the vicinity of properties they own, Minister of State for Trade and Industry Teo Ser Luck said in parliament on Monday (July 7). He was responding to a question by Workers’ Party Non-constituency Member of Parliament Yee Jenn Jong on whether the Government agreed with a recent report that showed REIT-ownership...