Mainboard-listed Ascendas REIT (A-REIT) has submitted a S$110 million bid for a business park site at Fusionopolis. A-REIT said this property, together with its existing properties within the one-north region and the neighbouring Science Park I and II, will enhance its market leadership position in the Business & Science Parks segment. The trust is planning to develop the business park site into a...
Singapore REITS
When it comes to shopping, the Indonesians are slated to be the next big spenders. That's according to analysts, who say the country's large population and robust economic growth will contribute to higher disposable incomes. Analysts also said that this trend would mean Singapore-listed retail real estate investment trusts (REITs), which have large exposure to emerging markets like Indonesia and China,...
CapitaRetail China Trust (CRCT) is acquiring New Minzhong Leyuan Mall - a mall in Wuhan's shopping and entertainment belt - for RMB 395 million (S$76 million) from The Ascott Holdings. Both CRCT and The Ascott Holdings are units of property developer CapitaLand. The mall has a net property income (NPI) yield of 8.1 per cent compared to the NPI of 7 per cent for CRCT's entire portfolio. CRCT's entire...
This year's second-largest initial public offering (IPO) has a flat showing on its first trading day on Wednesday. Mapletree Commercial Trust opened a tad higher but soon gave up early gains to end at its IPO offer price of 88 cents. The real estate investment trust (REIT) is the most actively traded counter in the Singapore Exchange during the session, with some 140 million units changing hands. The...
Mainboard-listed Global Logistic Properties (GLP) is offering 3 billion yuan (S$567 million) in fixed rate notes under its newly established medium-term note programme, a move that boosts Singapore's role as an offshore centre for the Chinese currency. GLP said yesterday its first yuan-denominated note is an integral part of its plan to diversify its sources of funding. The company, which has logistics...
Mapletree Logistics Trust on Thursday said its first-quarter distribution per unit (DPU) rose 3.3 per cent on-year to 1.55 cents. The Trust said its DPU increased by a lower percentage due to an enlarged number of units from the equity fund raising exercise in the last quarter of the financial year in 2010. Distributable income rose by 21.7 per cent on-year to S$37.5 million while net property income...
CapitaMall Trust Management said its distribution per unit (DPU) for the first quarter stood at 2.29 Singapore cents. That is up three per cent from the 2.23 Singapore cents reported in the same period a year ago. The trust said that this is largely due to contributions from Clarke Quay, which was acquired in July 2010, as well as robust rental renewals. Net property income for the quarter ended March...
Ascott Residence Trust said its distribution per unit rose 29 per cent to 2.14 Singapore cents in the first quarter. That is mainly due to contributions from the 28 properties acquired by Ascott Reit last year. The real estate investment trust said that revenue for the first quarter climbed 55 per cent to S$67.3 million. It expects to deliver the forecast distribution of 7.74 Singapore cents for the...
CapitaCommercial Trust (CCT) and its parent company CapitaLand plan to jointly develop Market Street Car Park into a office tower. The project cost is estimated to be about S$1.4 billion. In a joint statement, both companies said that based on this figure, the development is considered financially viable. The stabilised yield from the completed development is expected to exceed 6 per cent per...
Ascendas Real Estate Investment Trust (A-REIT) has posted a full-year distribution per unit of 13.23 cents, which is a one per cent increase from a year ago. A-REIT said the total amount available for distribution was up by 5.6 per cent to S$248 million. Gross revenue rose 8.2 per cent to S$447.6 million, contributed mainly by new investments and increase in occupancy rates. However, the increase was...