OUE Commercial REIT is set to be the first major initial public offering (IPO) in Singapore this year. It will also be the first among a slew of trust listings -- including the ones planned by Korea's Lotte Shopping and Keppel's data centre unit -- that's headed for the Singapore bourse. Overseas Union Enterprise (OUE) has started taking orders for its S$400 million REIT listing. The IPO is priced...
Singapore REITS
CapitaLand, CapitaMalls Asia and CapitaMall Trust have signed an option to sell Westgate Tower for S$579.4 million. In a filing with the Singapore Exchange, CapitaLand said the option was granted to a consortium comprising Sun Venture Homes and Low Keng Huat (Singapore), which has up to January 24 to exercise it. Located at Jurong Gateway, Westgate Tower is the office component of the Westgate...
Singapore has been the largest initial public offering (IPO) market across Southeast Asia, raising S$6.2 billion year-to-date. Looking ahead, analysts expect a healthy pipeline of Business Trusts and real estate investment trusts (REITs) to list in Singapore in 2014, despite concerns over rising interest rates. Listing activity in other ASEAN markets such as Indonesia, Malaysia and Thailand is also...
Moody's Investors Service says the outlook is stable for Singapore's Real Estate Investment Trusts (REITs) sector in the year ahead. Based on a report released on Monday, the ratings agency says a larger asset base and rent increases on existing properties are expected to fuel growth for the 13 REITs it rated. It forecasts that the earnings before interest, taxes, depreciation and amortization...
Singapore-listed real estate investment trusts (REITs) have paid out a whopping S$2.9 billion in total dividends over the last 12 months, according to the latest data from Singapore Exchange's investor education portal SGX My Gateway. Although REIT prices have taken a bit of a knock recently, analysts say they remain upbeat on the long-term investment prospects of SGX-listed REITs. In the last 12...
Singapore-listed hotel and property group Overseas Union Enterprise (OUE) plans to include Shanghai's Lippo Plaza in the initial portfolio of its proposed OUE Commercial Trust. In a stock exchange filing late Wednesday night, the company says OUE Commercial Trust will buy the 36-storey Lippo Plaza in Shanghai from Hong Kong-listed Lippo China Resources. Earlier, OUE has said that its commercial REIT...
Viva Industrial Trust, a Singapore business and real estate trust, said on Monday it would be raising S$365 million through an initial share sale to Chinese property tycoon Tong Jinquan and the public, Bloomberg News reported. Mr Tong, the chairman of Shanghai Summit Property Development, will purchase S$200 million of shares in the initial public offering as a cornerstone investor, the trust said in...
Real-estate developer Overseas Union Enterprise is considering setting up a commercial real estate investment trust to be listed on the main board of the Singapore Exchange (SGX), the company said yesterday. The initial portfolio of the proposed REIT is expected to include OUE Bayfront, an 18-storey office building at Collyer Quay, as well as commercial properties owned by Lippo China Resources, the...
Viva Industrial Trust plans to offer a 2014 dividend yield of about 8.8 per cent in an initial public offering that will raise as much as S$375 million in Singapore, according to people with knowledge of the matter. The trust, which will be backed by three industrial properties, kicked off its pre-marketing process yesterday and plans to list on the Singapore Exchange next month, they said. They...
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...