Singapore
OUE Commercial REIT To Spend S$22 Million Enhancing Crowne Plaza Changi Airport Hotel
Aug 2, 2023 – OUE Commercial REIT has commenced a S$22 million asset enhancement project at Crowne Plaza Changi Airport,its manager said in a statement. The work is expected to be completed by end 2023. According to the statement, the enhancement is expected to generate a uereturn on investment of approximately 10%. The manager intends …
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Digital Core REIT Announces New Chairman, CFO; Nariet Global Developed Index Inclusion
Sept 4, 2023– Digital Core REIT (SGX: DCRU), a pure-play data centre REIT listed in Singapore and sponsored by Digital Realty, announced a series of leadership changes. David Lucey, who currently serves as a non-independent director, will assume the role of chairman of the board of Digital Core REIT Management Pte. Ltd., the manager of Digital …
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Digital Core REIT 1H Net Property Income Down 0.7%, Repurchased 4.6 Million Units
July 27, 2023 – Digital Core REIT’s first-half 2023 net property income fell a marginal 0.7% year on year to US$35.15 million and declared a distribution per unit of 1.92 US cents, down 6.8% from the year earlier period, its manager said in a statement. The REIT repurchased 4.6 million units at an average price …
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For Sale: Savills Offering Suntec Tower 1, Entire 31st Floor
August 15, 2023 – Savills Singapore is offering the sale of the entire 31st floor at Suntec Tower 1. The office floor enjoys unobstructed views of the Marina Bay Financial District, the City Skyline, Kallang River and Singapore Sports Hub. The office floor comes with three individual titles, with strata sizes ranging from 3,735 sq ft …
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Elite Commercial Trust 1H 2023 Revenue Up 3.4%, DPU Down 24.2%
Aug 13, 2023 – Elite Commercial Trust’s first-half to June 2023 revenue grew 3.4% to £19.1 million compared to the previous corresponding period, lifted by net annualised inflation-linked rent escalation of 13.1% for 136 assets and partially offset by the vacancy of eight assets, effective April 1, 2023, its manager said. Distribution-per-unit is 1.94 pence, …
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Sabana REIT Will Be First in Singapore To Have Internal Manager After Unitholders Voted For Removal of External Manager
Aug 7, 2023 – In an unprecedented move, Sabana Industrial Real Estate Investment Trust’s unit holders voted in an extraordinary meeting on August 7 in favour of removing its existing external manager and replacing it with an internal manager. Up to now, all 42 Reits and trusts listed on the Singapore Exchange are managed externally, …
Mapletree Logistics Trust Divests Singapore Property For S$27.8 Million; Malaysian Asset For MYR60 Million
Aug 12, 2023 – Mapletree Logistics Trust Management said the trust will divest 8 Loyang Crescent in Singapore at a sale price of S$27.8 million. The proposed divestment is in line with the manager’s strategy to rejuvenate the portfolio through selective divestments of non-core assets, providing the trust with greater financial flexibility to pursue investments in modern …
OUE Commercial REIT First-Half Net Income Rises 23.1%, DPU Down 2.8%
July 29, 2023 – OUE Commercial REIT’s six-month to June 30, 2023, net property income grew 23.1% year-on-year to S$115.3 million supported by Singapore’s tourism recovery and improvements in portfolio operational metrics. Revenue was S$138.8 million, an increase of 19.8% year-on-year on the back of the recovery in Singapore’s tourism sector. The amount to be distributed was …
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Parkway Life REIT First-Half Net Income Climbs 25.1%, DPU Up 3.3%
July 29, 2023 – Parkway Life Real Estate Investment Trust posted a 25.1% increase in net property income for the half year ended June 30, 2023, of S$70.1 million. Distributon-per-unit was 7.29 Singapore cents, representing an increase of 3.3% year-on-year. Gross revenue increased by 23.6% to S$74.4 million, due principally to contributions from the five …
Parkway Life REIT First-Half Net Income Climbs 25.1%, DPU Up 3.3% Read More »