Suntec REIT

Suntec REIT buys Australian freehold Grade A office for $141.51m

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,...

Suntec Reit raises S$200m in private placement

Suntec Real Estate Investment Trust's (Suntec Reit) manager has closed the book of orders for its private placement of new units in the Reit to raise gross proceeds of about S$200 million. The bulk of the proceeds will go towards financing potential acquisitions of properties in Australia, ARA Trust Management (Suntec) Limited said on Thursday before the market opened. On Wednesday night, the...

SingHaiyi Group, Suntec Reit secure UBS Singapore as sole office tenant at former Park Mall

SingHaiyi Group and its joint venture (JV) partners - Suntec Reit and Haiyi Holdings - have secured UBS Singapore as its anchor office tenant for their commercial development at 9 Penang Road. Formerly known as Park Mall, the property is undergoing redevelopment which is on track to be completed in the fourth quarter this year, the mainboard-listed developer said on Wednesday. UBS Singapore plans to...

Suntec Reit Q2 DPU down a marginal 0.8%

Suntec Reit distribution per unit (DPU) edged down to 2.474 Singapore cents for the second quarter ended June 30, 0.8 per cent lower than the 2.493 Singapore cents DPU for the year-ago period. Gross revenue rose 3.7 per cent year-on-year to S$90.5 million, while net property income rose 2.2 per cent to S$60.7 million, both due mainly to higher contribution from Suntec Singapore and Suntec City Mall...

Suntec Reit’s Q4 DPU slips, S$800m Penang Rd project to be completed end 2019

SUNTEC Real Estate Investment Trust posted on Wednesday a distribution per unit (DPU) of 2.596 Singapore cents for the fourth quarter ended December 31, 2016, 5.6 per cent lower than the DPU of 2.750 cents seen a year ago. Distributable income stood at S$66.1 million, 4.9 per cent lowerthan a year ago. Net property income generated was S$60.7 million, 2.9 per cent lower on year due to the divestment of...

Suntec REIT sells new units at discounted price

Suntec Real Estate Investment Trust (REIT) has sold new units to investors at a discounted price of S$1.605 a unit, raising net proceeds of about S$341 million to pay down its debt. The private placement of just over 218 million new Suntec units was priced near the top of the indicative range of S$1.575 to S$1.615. The placement price, however, represented a discount of about 4.7 per cent to the...

Suntec REIT reports 6.2% fall in Q4 DPU

Suntec Real Estate Investment Trust (Suntec REIT) has reported a 6.2 per cent on-year decline in distribution per unit at 2.326 cents for the fourth quarter of 2012. In a statement, ARA Trust Management (Suntec) Limited, manager of Suntec REIT, said its income available for distribution fell 5.3 per cent on-year to S$52.39 million in the fourth quarter. It added that fourth-quarter gross revenue and net...

Suntec REIT’s Q2 DPU down 6.8%

Suntec Real Estate Investment Trust has announced that its second quarter distribution per unit (DPU) fell 6.8 per cent year-on-year. The Reit's DPU slipped to 2.361 Singapore cents per unit for the April-June period from 2.532 cents in the same period last year. Suntec said the decline is due mainly to the lower retail revenue from Suntec City Mall and the loss in revenue because of the trust's...

Suntec REIT reports Q1 DPU of 2.45 cents

Suntec Real Estate Investment Trust (Suntec REIT) has reported a first quarter distribution per unit (DPU) of 2.45 Singapore cents. This is 2.7 per cent higher from its DPU of 2.39 cents declared a year ago. The trust said its annualised distribution yield stood at 7.8 per cent, compared to 7.6 per cent in the same period last year. Suntec REIT's gross revenue rose 20.1 per cent to S$73.3 million...

Suntec City to undergo S$410m revamp

Suntec Real Estate Investment Trust (Suntec REIT) has announced a S$410 million asset enhancement initiative (AEI) for its flagship asset, Suntec City. The AEI is scheduled to start in mid-2012, and will comprise a S$230 million capital expenditure in remaking Suntec City Mall and a further S$180 million on Suntec Singapore International Convention and Exhibition Centre (Suntec Singapore). Suntec REIT...

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