Frasers Centrepoint Trust Wins $310M Green Loan and More Asia Real Estate Headlines

In today’s roundup of regional news headlines, Singapore’s Frasers Centrepoint Trust announces fresh financing to help its malls go green, and Sino-Ocean reportedly meets two key shareholders to discuss the Chinese developer’s debt load before an onshore bond matures next month. Also in the news, a new “executive condo” project is on the way in Singapore’s Bukit Batok and a German asset manager is looking for a buyer for a property near the city-state’s Orchard Road.

Frasers Centrepoint Trust Obtains S$419M Green Loan, Carbon Credits

Singapore-listed Frasers Centrepoint Trust has bagged a S$419 million ($309.9 million) green loan from OCBC with carbon credits as part of the deal.

On Thursday, the REIT’s manager and the bank dubbed it Singapore’s first green financing solution that comprises a green loan and carbon credits. Proceeds from the loan will be used for decarbonisation projects that include procuring energy-efficient technology for the Tampines 1 mall, which is in the midst of a S$38 million asset enhancement initiative. Read more>>

Sino-Ocean Working With Major Shareholders on Debt Plan, Sources Say

A state-backed Chinese developer facing mounting signs of concern in credit markets told some creditors Tuesday that it’s been working with two major shareholders regarding its debt load, according to people familiar with the matter.

State-owned China Life Insurance and Dajia Life Insurance sent a working group to Sino-Ocean Group Holding regarding a holistic risk mitigation plan, said the people, who asked not to be named discussing private matters. Read more>>

Qingjian and Santarli to Launch Executive Condo in Singapore’s Bukit Batok

Qingjian Realty and Santarli Realty have jointly launched Altura Executive Condominium. In a joint statement, the developers said the 360-unit development in Singapore’s Bukit Batok West Avenue 8 will feature living spaces, seamless connectivity and greenery. The complex will be up for preview on 22 July.

It is located between the heartlands of Bukit Batok, the Jurong urban region, and the upcoming Tengah Forest town, residents can see comforts with manifold retail, dining and entertainment options, as well as easy access to key business hubs like the Jurong Lake District and The Metropolis at Buona Vista. Read more>>

Union Investment Puts VisionCrest Building on Market for S$470M-Plus

The property unit of German asset manager Union Investment is putting on the market VisionCrest Commercial along Singapore’s Penang Road.

The guide price for the 11-storey predominantly office freehold building is in excess of S$470 million ($347.7 million), reflecting S$3,157 per square foot on the net lettable area of 148,854 square feet (13,829 square metres). Read more>>

Retail Podium at The Linq at Beauty World for Sale at S$136M

A freehold two-storey retail podium at Singapore’s The Linq at Beauty World has been put up for sale through an expression of interest exercise at an indicative guide price of S$136 million ($100.6 million).

The indicative guide price for the collective sale of all 53 strata-titled units is S$4,580 per square foot of the total strata area, marketing agent CBRE said Wednesday. Read more>>

Kingsley Mansion Up for Sale Again With Unchanged S$52M Guide Price

Kingsley Mansion, a small freehold apartment development at 27 Boon Teck Road, is back on the market after an earlier collective sale attempt closed with no sale.

The property in Singapore’s Balestier area was marketed for sale in March this year, about five years after owners first launched an en bloc sale in 2018 at a reserve price of S$45.5 million ($33.7 million). Read more>>

The Place Holdings’ Potential Deal for Realty Centre Site Falls Through

The Place Holdings on Tuesday said its potential deal to sell up to 11 percent of its stake in the former Realty Centre site to Maximus Global Ventures was terminated after passing the long-stop date.

The group was expecting its share of the proceeds from the deal to be S$8.8 million, or 18.7 percent of the company’s entire market capitalisation of S$47.1 million ($34.8 million) on Wednesday. Read more>>

Quarz Seeking MAS, Regulator Support in Sabana REIT Tussle

Activist investor Quarz Capital, a unitholder of Sabana REIT, is seeking support from the Monetary Authority of Singapore and the Singapore Exchange Regulation.

This is to ensure the fair conduct of an upcoming extraordinary general meeting, where unitholders are expected to vote on the removal of Sabana REIT’s current manager and replace it with an internal one. Read more>>

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