DBS Group Research on Monday noted that the government's efforts to rejuvenate the Greater Southern Waterfront (GSW) area offers significant opportunities for developers, with Mapletree Commercial Trust (MCT) standing to gain as VivoCity, which is owned by the trust, is likely to remain the "bedrock of the GSW rejuvenation". Other potential beneficiaries include Frasers Commercial Trust, which owns...
Australia-listed property developer Lendlease Group is injecting a shopping mall in Orchard Road into its upcoming global commercial real estate investment trust (Reit) listing worth at least S$1 billion in market capitalisation. The Business Times understands the initial public offering (IPO) portfolio will comprise one property each in Singapore and Milan, Italy with a total net lettable area of 1.3...
Investors in Singapore's much-loved real estate investment trusts (Reits) may soon have another reason to cheer, as the central bank considers looser debt rules that could spur more acquisitions by property managers. The Monetary Authority of Singapore ended a one-month consultation period on Thursday that looked into increasing the amount of debt that Reits can take on to 50 per cent from 45 per cent...
Loss of income from a recently divested property, absence of a one-time recovery of costs for another, plus lower revenue and net property income (NPI) due to a challenging market, dampened results for industrial property owner Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) in its second quarter. Distribution per unit (DPU) shrank to 0.62 Singapore cent from 0.82...
CapitaLand Commercial Trust (CCT) will acquire an effective 94.9 per cent interest in the holding companies of a freehold office building in Frankfurt, Germany, from its sponsor CapitaLand and Lum Chang Holdings. The purchase consideration will be 133.4 million euros (S$205.3 million), the manager of the real estate investment trust (Reit) said on Wednesday morning. The property, Main Airport Center...
SUNTEC Reit has expanded its presence in Australia with its latest acquisition of the entire stake in a freehold Grade A office building in Adelaide for A$148.3 million (S$141.4 million). The 12-storey property has an NLA of 282,000 sqft and a committed occupancy of 91.6%. The property at 55 Currie Street has an approximate net lettable area (NLA) of 282,000 sqft and had undergone refurbishment,...
Mapletree Industrial Trust (MIT) plans to redevelop a flatted-factory cluster at Kallang Way into a high-tech industrial precinct at a total project cost of about S$263 million, the manager of the mainboard-listed real estate industrial trust (Reit) said. This will be MIT’s largest redevelopment project to date, and is another strategic step in growing its high-tech buildings segment, the manager...
Singapore's CapitaLand will combine Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust (A-HTRUST) to form the largest hospitality trust in the Asia-Pacific region, it was announced on Wednesday (Jul 3). The proposed combination will result in the combined entity becoming the eighth largest hospitality trust globally, with an asset value of S$7.6 billion, the two trusts announced in a...
In a move to enable Singapore real estate investment trusts (S-Reits) to better compete against private capital and foreign Reits when making real estate acquisitions, the Monetary Authority of Singapore (MAS) is considering raising their current leverage limit of 45 per cent. Leverage, defined as the debt-to-asset ratio, measures how well-capitalised a company is. The central bank on Tuesday...
Starhill Global Reit is keeping the base rent unchanged for the Toshin master lease at Ngee Ann City for the next three years starting from June 8, 2019, under its latest rent review, the real estate investment trust’s (Reit) manager announced on Saturday in a bourse filing. Toshin is the master tenant occupying all retail areas except level five of Ngee Ann City for the 12-year period from June 8,...
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