Frasers Centrepoint Trust (FCT) has more than doubled its revenue and asset size since its initial public offering (IPO) in July 2006. In the last eight years, the trust has been able to grow its distribution per unit at an average of 9 per cent per year. FCT said asset enhancement is its biggest engine for growth. For instance, it said the asset enhancement on malls like Causeway Point and...
Singapore REITS
With recent weakness in manufacturing, experts said this could impact demand for factory space. Coming at a time when the supply of industrial property is on the rise, they added that this could put pressure on some real estate investment trusts (REITs). Within the next four years, more than 5 million square metres of factory space, and 1.6 million square metres of warehouse space, are expected to...
Ascott Residence Trust, also known as Ascott Reit, announced on Monday (July 7) that it has entered into conditional agreements to acquire its first serviced residence in Kuala Lumpur, Malaysia, as well as properties in Wuhan and Xi’an in China at a total property value of S$173.9 million. Ascott Reit will acquire the 207-unit Somerset Ampang Kuala Lumpur from The Ascott Ltd for RM175 million (S$67.4...
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,...
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...
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...
Singapore-listed Real Estate Investment Trusts (S-REITs) have gained popularity among investors this year. Their unit prices have risen by about eight per cent year-to-date, outperforming the benchmark STI. While market watchers are upbeat about the growth prospects for REITs, they say investors should focus on good asset quality. Suntec REIT is among the top performing REITs in Singapore this year,...
CapitaLand has raised its stake in CapitaMalls Asia (CMA) to 85.2 per cent, bringing it closer to crossing the 90 per cent level that would enable it to delist its shopping mall arm. CMA is one of Asia's largest shopping mall developers and operators, with interests in more than 100 shopping malls across Singapore, China, Malaysia, Japan and India. "We are pleased with the positive response towards...
CapitaLand's stake in CapitaMalls Asia (CMA) has crossed the 80 per cent mark, bringing it closer to attaining full control of its shopping mall arm. Southeast Asia's largest developer CapitaLand now controls approximately 81.3 per cent of CMA, after taking into account open market purchases and acceptances of the offer as at 5 pm on Tuesday (May 20), it said in a statement on Wednesday. On 16 May,...
Real Estate Investment Trusts (REITs) have no impact on retail rents, which are being driven up by the malls' location and enhancements instead of their ownership. This is according to a study conducted by the Ministry of Trade and Industry (MTI), following a growing perception that rental prices at retail malls acquired by REITs are rising at a faster rate. After removing factors such as location...