Mainboard-listed Ascendas REIT (A-REIT) said it will buy a commercial property in China for S$117.6 million from Hyday Holding. Located at the Jinqiao Export and Processing Zone in the Pudong New District of Shanghai, the almost 32 thousand square metre site is about 30 kilometres away from Pudong International Airport. A-REIT said Jinqiao is a preferred zone for many multi-national companies looking to...
Singapore REITS
Sustained economic growth and strong tourist arrivals in the next two years are expected to spur growth in retail sales. This could bode well for real estate investment trusts (REITs) that own shopping malls. Some analysts are singling out retail-linked REITs as good investment bets. They are bullish, in particular, about those that own shopping malls in the prime Orchard Road area. Mall owners in the...
At least seven real-estate investment trusts (REITs) are expected to make their debut on the Singapore Exchange (SGX) this year. And like last year's big-ticket IPOs of Global Logistic Properties and Mapletree Industrial Trust, analysts said the listings in 2011 could also include some heavyweights. Experts said the seven upcoming REIT IPOs could together raise around S$4 billion. REIT IPOs in the...
Cache Logistics Trust reported a distribution per unit (DPU) of 5.588 cents - 1.2 per cent higher than its own forecast. According to its financial statement for the period from April 12 - when it started operations - to December 31, net property income and gross revenue stood at $41.4 million and $42.4 million respectively. The trust operates on a master lease structure, which aims to provide a high...
CDL Hospitality Trusts (CDLHT) is widely seen by analysts as poised to acquire Studio M Hotel in the Mohamed Sultan area, possibly this year. The hotel, which opened in April last year and is owned by CDLHT's sponsor, London-listed Millennium & Copthorne Hotels, is seen by the market as a logical acquisition target for CDLHT. The trust manager's CEO Vincent Yeo said yesterday that typically it takes...
Mainboard-listed CapitaRetail China Trust (CRCT) said its distribution per unit (DPU) rose 1.5 per cent in the fourth quarter to 2.07 cents, from 2.04 cents announced over the same period a year ago. Net property income over the period dipped 1.4 per cent on-year to $18.8 million, mainly due to increase in marketing and utility expenses, and higher provision for staff-related costs. Distributable income...
Frasers Commercial Trust (FCOT) has announced a distribution per unit (DPU) of 0.25 Singapore cent for its first quarter ended December 31. This is a 4.2 per cent increase compared to the year-ago DPU, said FCOT. Total distributable income grew 4.1 per cent S$12.6 million as net property income dropped 2.4 per cent to S$22.9 million and gross revenue fell 2.3 per cent to about S$29 million. FCOT said...
Mainboard-listed CDL Hospitality Trusts has announced a 4.1 per cent on-year increase in its distribution per unit (DPU) to 2.78 cents in the fourth quarter of 2010. For the full year, the trust said DPU rose 19 per cent to 10.2 cents, compared to the 8.57 cents distributed in the previous year. It said the increase came on the back of improved hospitality performance in Singapore and contribution from...
Starhill Global REIT said on Wednesday that its distribution per unit (DPU) for the fourth quarter improved by 7.2 per cent. It announced a DPU of 1.04 cents, up from the 0.97 cents declared in the year-ago period. Distributable income rose by 7.6 per cent on-year to $20.2 million, while net property income was up 37 per cent on-year to $36.7 million. Starhill said the improvement in net property income...
Moody's Investors Service expects continued growth in Singapore Real Estate Investment Trusts (S-REITs) this year in an environment of low interest rates, supportive capital markets and improved economic sentiment. In a special report, Moody's associate analyst Alvin Tan said the S-REITs will use their well-capitalized balanced sheets to fund their acquisitive growth strategies this year. The report...