CapitaLand Investment’s headquarters at Capital Tower (Image: CapitaLand)
Temasek-controlled CapitaLand Investment posts a marginal dip in first-quarter revenue, with that story leading Mingtiandi’s headline roundup today. Also making the cut, Singapore’s URA reports rising private home prices, while SGX-listed Far East Orchard buys a 49 percent stake in a UK student housing operator.
CapitaLand Investment Q1 Revenue Nearly Flat on ‘Stable’ Performance
Singapore-listed CapitaLand Investment reported total revenue of S$650 million ($478 million) for the first quarter of 2024, down 0.2 percent from the year-earlier period.
The real estate investment manager said the result demonstrated “stable” performance on a year-on-year basis. Fee-income-related business revenue grew 7 percent to S$274 million. Read more>>
Singapore Q1 Private Home Prices Up 1.4%, Rents Drop 1.9%
Prices in Singapore’s private residential property segment rose 1.4 percent in the first quarter of 2024, according to figures released Friday by the Urban Redevelopment Authority.
The reading was a tad lower than the 1.5 percent flash estimate by the agency earlier this month and follows an increase of 2.8 percent in the previous quarter. Read more>>
Far East Orchard Buys 49% Stake in UK Student Housing Operator
Singapore-listed Far East Orchard on Thursday announced that its student housing subsidiary has acquired a 49 percent stake in Homes For Students Ltd, a purpose-built student accommodation operator based in the United Kingdom, for £17.6 million ($22 million).
The company said it purchased the stake in Homes For Students from two non-management sellers, with the British firm operating over 40,000 beds in more than 50 university towns and cities in the UK and Ireland. Read more>>
Hong Kong Home Prices Rise for First Time in 11 Months After Curbs Scrapped
Hong Kong home prices rose for the first time in almost a year in March as the city’s removal of property curbs revived sales.
The price index for private domestic homes increased by 1.06 percent from February, after declining for 10 months straight, according to the Rating and Valuation Department. Read more>>
KKR Raises $11B for Latest Global Infrastructure Fund
KKR raised $11 billion for its latest global infrastructure fund, more than half of its target, according to a person with knowledge of the matter.
The alternative asset manager began fundraising for KKR Global Infrastructure Investors V in November with a goal of $20 billion, said the person, who asked not to be identified discussing confidential information. The firm hasn’t yet held a first closing of the fund. Read more>>
Blackstone to Sell $1.6B in Student Housing Properties to KKR
Blackstone has agreed to sell a student housing portfolio to KKR for $1.64 billion.
Blackstone Real Estate Income Trust will offload 19 student housing properties with more than 10,000 beds to funds managed by KKR, according to a statement Thursday. The deal, which is expected to be completed by the third quarter, includes properties located near 14 public universities. Read more>>
Mapletree Industrial Trust Q4 DPU Up 0.9%
Singapore-listed Mapletree Industrial Trust on Thursday posted distribution per unit of S$0.0336 for the fiscal fourth quarter to the end of March, up 0.9 percent from the year-earlier period.
Distributable income for the quarter rose 4.4 percent year-on-year to S$95.2 million on higher net property income and distribution declared by its joint venture, Mapletree Rosewood Data Centre Trust. Read more>>
Vanke Crisis May Continue to Spell Trouble for Chinese Lenders
Greater China’s property market crisis and the challenges it poses for lenders will be on full display this coming Monday, when embattled developer China Vanke and the region’s biggest banks report earnings.
Vanke told brokerages that it’s making plans to resolve liquidity pressure and short-term operational difficulties. The firm is preparing an asset package totaling about $18 billion to use as collateral as it seeks new bank loans, people familiar with the matter said earlier this month. Read more>>
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