Exclusive * SoftBank Group Corp. is believed to be in negotiations to invest US$2 billion in WeWork Cos. Inc. in 2019. The potential investment is lower than the US$16 billion earlier reported to be earmarked by the Japanese multinational conglomerate for the American co-working space provider. * Singaporean property developer CapitaLand...
Citi’s Take – We provide key investors’ feedback on CapitaLand’s acquisition of Ascendas-Singbridge (ASB) from its attendance at Citi’s 24th Annual Global Property CEO Conference in Miami last week, as well as our marketing in Europe, Hong Kong, Malaysia, Singapore, Thailand and US following the publication of...
Frasers Property closes €285M European deal for 22-asset portfolio Frasers Property Ltd. completed the acquisition of a 94% stake in AI Gewerbepark Tamm GmbH, marking the closing of a €285.2 million deal signed in February for a portfolio of properties in Germany and Austria. The first phase of the acquisition closed...
OUE Commercial REIT (OUECT) and OUE Hospitality Trust (OUEHT) in proposed merger to create one of the largest diversified S-REITs with total assets of S$6.8b, according to company announcements. OUECT will offer to buy OUEHT in a cash and stock deal , offering...
Quoting the Urban Redevelopment Authority's (URA) fourth quarter 2018 housing statistics, Morgan Stanley reports that unsold inventory rose, but they think it is temporary. While vacancies fell faster than they expected, it did not translate into higher rents. Home prices fell...
ESR Cayman Ltd. confirmed that it has filed the papers for its proposed IPO on the Hong Kong stock exchange. The Asia Pacific-focused logistics real estate developer filed the application proof for the float March 1. Details of the IPO — such as the...
The following are a selection of charts from UBS that show the state of the Singapore property market. Summary The housing market remains weak as cooling measures continue to bitePricing power of developers are gradually weakeningSales volume of new condominiums are...
Riviere condo by Frasers Property at Jiak Kim. Your ticket to riverside city living.
Brookfield Property Partners LP appointed JLL and Cushman & Wakefield to oversee its divestment of a 50% stake in an A$800 million office development planned at Elizabeth Quay precinct in Perth, Australia, The Australian reported. The market-bound 30-story project that will span 52,000 square...
The long awaited Woodleigh Residences by SPH and Kajima finally opened its doors for preview over the weekend. There was a steady stream of visitors to the showflat while we were there. Although there was no queue at the show units, it wasn’t easy trying to get an ‘unblocked’ picture (because...
Capitaland Commercial Trust (CCT) has announced the completion of the divestment of Twenty Anson. The sale was originally announced on 29 June 2018, with CCT mentioning the sale consideration of S$516 million or S$2,503 per sqft based on the building's net lettable area. On the divestment, Mr Kevn Chee, CEO of...
2Q results highlights PREH reported a 2Q18 EBIT of S$41.9m, -26.5% yoy, on a 1.6% improvement in revenue to S$18.1m. Stripping out revaluations and other one-off gains, EBIT would have been marginally higher yoy. Net profit fell a greater 49.5% yoy to S$8.6m, eroded by lower EBIT and higher finance...
FPL’s 3QFY18 core PATMI of S$157m (-13% YoY) came in above estimates, due to faster-than-expected recognition of development profits in Singapore. Net gearing improved 6%pts QoQ but remains high at 89% and suggests that more properties are likely to be injected into its listed S-REITs. Also read: Parc Esta new launch...
Capitaland released a respectable set of results for 2Q2018. The following are excerpts from various equity research houses on the company's performance. CapitaLand reported 2Q18 net profits of S$605.5m, EPS of 14.4cts, +5.1% YoY. Core net profit of S$196.0m (-5.6% YoY) was below our expectation of S$226m, due mainly to...