Mainboard-listed Saizen Real Estate Investment Trust (REIT) has declared a distribution per unit of 0.50 cent for the six months ended 30 June. The purely Japanese regional residential property trust also reported its distributable income as at 30 June this year amounted to S$6.1m, compared to S$2.7m in the same period in 2010. The REIT said the increase was mainly due to a lower amount of cash used for...
Singapore REITS
CapitaMalls Asia has acquired the remaining 50 per cent stakes in two properties in Shanghai for S$949.7 million. The property developer has entered into conditional agreements whereby it will acquire the remaining 50 per cent stakes each in Minhang Plaza and Hongkou Plaza. In a filing on SGX, CapitaMalls Asia said together with its associates, it will have full interests in the two integrated...
The Urban Redevelopment Authority (URA) has granted Frasers Commercial Trust (FCOT) an Outline Planning Permission (OPP) for the redevelopment of KeyPoint building, located at 371 Beach Road, into a commercial and residential development. The OPP was granted subject to key terms and conditions, such as the re-zoning of the lot on which the property is situated from commercial to mixed commercial and...
Global Logistic Properties (GLP) is counting on China's booming domestic market to remain buoyant. This came after the Singapore-listed company posted an 80 per cent plunge in quarterly net profit. GLP's earnings last quarter were hurt by the earthquake in Japan which disrupted its warehousing services. In China, rising interest rates lowered demand Still, china contributed 69 per cent of revenue and...
Global Logistic Properties has signed agreements with two firms for the lease of facilities at GLP Park Jinqiao in Shanghai. In a news release, GLP said e-commerce solutions provider Commercial Global will take up a five-year lease for a 100,000-square-metre space to support online customers in east China. A renowned global luxury brand will also use 10,000 square metres of GLP's logistics facility as a...
Mainboard-listed Global Logistic Properties (GLP) said it has signed two agreements with Alibaba's Taobao Mall for the lease of two facilities in Shanghai and Guangzhou. In a statement, GLP said the agreement marks the partnership between the two companies and is expected to improve the nationwide logistics facility network for Alibaba's Taobao Mall's online retailing business. The new leases include a...
Mainboard-listed Global Logistic Properties (GLP) says it has signed an agreement to acquire a 49 per cent stake in Shanghai Yupei Group - a leading logistics properties provider in China. In a news release, GLP said the acquisition will cost US$53.6 million (S$65.2 million) and will be done through the 100 per cent equity acquisition of a Hong registered special purpose vehicle Shimmer Profits Limited by...
Real estate investment trusts (Reits) are considered one of the most accessible means of gaining exposure in the Singapore real estate market. “Young investors, who are constrained in capital, and yet would like to invest in real estate, could consider Reits as an alternative investment option,” said Deng Yongheng, Director of the Institute of Real Estate Studies (IRES), NUS and finance professor at...
Parkway Life REIT (P-Life Reit) posted a 13.4 per cent increase in distribution per unit (DPU) to 2.37 Singapore cents for its second quarter. That is up from 2.09 cents in the same period last year. Gross revenue at the healthcare trust rose 14.1 per cent to S$21.4 million, helped by Japan nursing home properties it acquired, and higher rent from existing properties. Net property income for the quarter...
Frasers Centrepoint Trust (FCT) will be acquiring Bedok Point from Woodlands Complex for S$127 million. Woodlands Complex is a wholly owned subsidiary of Frasers Centrepoint Limited. Frasers Centrepoint Limited is a subsidiary of Fraser & Neave Limited (F&N). In statement released Thursday, F&N said the divestment is in line with its strategy of unlocking value from its commercial properties...