Ascendas Real Estate Investment Trust (A-REIT) is buying a business park building in Jurong for S$246.8 million. The property at 31 International Business Park is currently owned by multimedia firm Creative Technology. It has a gross floor area of about 62,000 square metres and a net lettable area of some 50,000 square metres. It includes three office towers, an auditorium and a 2,000-capacity outdoor...
Singapore REITS
Allco Commercial REIT said on Wednesday it is putting its stakes in two properties in Australia up for sale and has appointed sales agents for these properties. The properties are Central Park in Perth and Centrelink Headquarters in Canberra. Together, they are valued at around A$483 million or S$624 million. CB Richard Ellis and Jones Lang LaSalle (JLL) will sell Allco's 50 percent interest in Central...
Mainboard-listed Parkway Life REIT has booked a distributable income of S$9.8 million for the first quarter. That works out to a distribution per unit (DPU) of 1.62 cents. All in, gross revenue hit S$11.9m on the back of sustained demand for private healthcare. The REIT's portfolio includes Mount Elizabeth Hospital, Gleneagles Hospital and East Shore Hospital. - CNA/ir Source : Channel NewsAsia - 6 May...
The real estate investment trust (REIT) market appears to be holding up for now, despite the current cautious sentiment in the property market. Strong dividend yields, on the back of rising inflation, continue to make Singapore REITs attractive to investors. But industry watchers said these REITs are starting to feel the impact of the global credit crunch. Marjan Van Der Weijden, Head, Structure Finance...
CapitaCommercial Trust (CCT) has decided to defer the planned redevelopment of the Market Street car park. In January 2008, CCT was granted an outline planning permission by urban planners to redevelop the property into a Grade A office building. Since then, it has been working with its appointed architect and consultants to finalise and submit design plans to the Urban Redevelopment Authority. In a...
Mainboard-listed Macquarie MEAG Prime REIT (MMP REIT) has booked a distributable income of S$17 million for the first quarter, up nearly 22 per cent compared to the same period a year ago. MMP REIT said that its earnings were driven by attractive acquisitions, tenancy remix as well as asset enhancement initiatives. The REIT saw strong rental rates in Singapore. Its retail space was at full occupancy,...
Mapletree Logistics Trust has booked a distributable income of S$21 million for the first quarter, up 37 percent compared to a year ago. Mapletree Logistics will distribute 1.90 Singapore cents per unit for the first quarter, up from 1.48 Singapore cents a year earlier. Net property income rose 45 percent on-year to S$37.4 million, while gross revenue shot up by 48 percent on-year to S$42.6...
Mainboard-listed Ascott Residence Trust (ART) has posted a first quarter distributable income of S$14.2 million, up 76 per cent compared to the same period a year ago. ART said it benefited from higher demand for accommodation from business travellers in the region. It also attributed its strong financial performance in the first quarter to the improved operating performance of the properties and...
Mainboard-listed Ascott Residence Trust (ART) has posted a first quarter distributable income of S$14.2 million, up 76 per cent compared to the same period a year ago. ART said it benefited from higher demand for accommodation from business travellers in the region. And going forward, it expects to see stable growth as it maintains a balance of properties in both developed and emerging markets in the...
Volatile capital markets cited as main reason JTC Corp has scrapped plans to divest a large chunk of its industrial property portfolio through a listed real estate investment trust (Reit). Instead, it will sell the 62 properties for $1.71 billion to Temasek-linked Mapletree Investments, which it had earlier appointed to manage the planned trust. This is because of recent weak stock market...