Warehouses lead Mingtiandi’s first headline roundup of the week with a Singapore-listed REIT closing on its purchase an industrial asset in the city’s Jurong area after agreeing to buy the property during August.
Also, in the news is a new project launch in the Shatin area of Hong Kong’s New Territories, where New World Development had surprised the market with some deep discounts, and a Swiss activist investor continues to give ESR headaches over a planned merger of Singapore’s Sabana REIT.
AIMS APAC REIT has completed the acquisition of a four-storey warehouse in western Singapore’s Jurong district for S$129.6 million ($94.4 million), according to an announcement by the SGX-listed trust’s manager
Following completion of the acquisition of 7 Bulim Street, AA REIT now owns 28 industrial assets, comprising 26 properties in Singapore and one in Gold Coast, Queensland, Australia. Read more>>
Hong Kong property company New World Development will offer the first batch of its The Pavilia Farm project in Sha Tin at lower-than-expected prices, as the city’s third coronavirus wave and its worst recession in decades weigh on the property market.
The first batch of 180 units measuring 322 sq ft to 835 sq ft will be offered at prices ranging from HK$16,618 (US$2,144) to HK$23,877 per square foot, or HK$6.3 million to HK$19.9 million, each. These flats will be completed in June 2022. Their prices represent a 16 per cent discount when compared with the first batch of flats at The Garrison, a development three minutes’ walk away launched by developer Far East Consortium International in July 2018. The Garrison was completed in March, 2019. Read more>>
There’s a glitzy side of Singapore property: the cavernous shopping malls; the tall office buildings; the pricey condominiums; the luxury hotels; and the hospitals where rich Indonesians and Bangladeshis seek treatment and five-star customer service.
But there’s also a vibrant market at the non-sexy end of the spectrum: the warehouses, the factory sheds and, increasingly, the data centers. Their owners are industrial real estate investment trusts, which collect rent and pass it on to unitholders. It’s something that appeals to an aging population that values the certainty of dividends more than the headiness of growth. Read more>>
Scottish businessman Stuart Gibson has become the fourth largest shareholder at Rangers after investing £5 million into the club.
The Japan-based property tycoon made his move as part of a new share issue which, according to papers lodged at Companies House, raised in the region of £8.5m for the Ibrox outfit. Read more>>
Much has been discussed about Golden Mile Complex at Beach Road. Some laud it for its architectural and historical significance and call for it to be conserved while others consider it an eyesore and feel that it should be demolished.
On Oct 9, the Urban Redevelopment Authority (URA) announced that Golden Mile Complex will be proposed for conservation in view of its historical and architectural significance. Read more>>
Warehouse landlords are expected to be the biggest gainers as growing Sino-US tensions fuel a strategic shift in manufacturing and logistics value chains to South-east Asia and more companies adopt a “China + 1” strategy.
On Monday, a DBS Group Research report named Mapletree Logistics Trust (MLT), Westports, ESR Cayman, Thailand’s industrial estate developer Amata, as well as Thailand’s logistics Reits (real estate investment trusts), Hemaraj Reit and WHA Premium Reit, as “gems” to buy within the Asean logistics industry. Read more>>
Ikea Singapore will hire 200 people for its new Jurong store at suburban mall Jem despite a fall in revenue in its last financial year, the firm announced yesterday.
The store – the third Ikea outlet here – is slated to open next year and will span around 6,500 sq m across three floors. Read more>>