CapitaLand Mall Trust to deliver higher returns in near-term, but positives already priced in: OCBC

SINGAPORE (June 6): OCBC Investment Research is maintaining “hold” on CapitaLand Mall Trust (CMT) while raising its fair value estimate by a cent to $2.33 on the faster-than-expected ramp up of Funan.  

This comes after CMT’s manager announced the impending opening of the integrated development on June 28, two months ahead of the original scheduled date.  

Singapore lone bright spot in Asia commercial property slump

SINGAPORE (May 22): Commercial property deals in Asia had a poor start to the year, but there was one bright spot: Singapore.

Commercial property transactions in the city-state jumped 72% year-on-year to US$1.9 billion ($2.6 billion) in the quarter ended March 31, boosted by deals in the office, retail and industrial sectors, according to a report by New York-based Real Capital Analytics Inc. Office transactions accounted for the bulk of the activity as investors sought to lock in higher rents.

Funan office component said to hit 98% pre-leasing commitment at TOP

SINGAPORE (May 8): The manager of CapitaLand Mall Trust (CMT) and CapitaLand say the twin office blocks of Funan have secured a total pre-leasing commitment of 210,000 sq ft or 98% of its total office net lettable area (NLA) at the point of securing TOP in April.

Formerly known as Funan DigitaLife Mall, Funan is owned by CMT and managed by CapitaLand.

Manulife US REIT acquires Virginia asset for US$122 mil; proposes US$94 mil private placement to fund deal

SINGAPORE (April 29): Manulife US REIT has agreed to acquire a freehold 11-storey Class ‘A’ office asset at the Washington Metropolitan area in Fairfax, Virginia, for a consideration of US$122 million ($166.1 million) from Carr Properties.

Comprising two towers dubbed Centrepointe I and II, the property is located along 4000 and 4050 Legato Road and features a total net lettable area (NLA) of 419,981 sq ft with 1,456 parking spaces.

3 non-office REITs to tide investors through an uncertain 2019: OCBC

SINGAPORE (Mar 12): OCBC Investment Research is maintaining “neutral” on the Singapore REIT (S-REIT) sector with a preference for retail and hospitality REITs over their office counterparts for their comparatively conservative asset valuations.

This is because the research house believes optimism on further rental growth for office REITs in 2019 has likely been priced in and is set to moderate from the 14.9% growth in 2019, and thus has “more room for disappointment than an outperformance”.

Singapore stocks with high yield, low expectations are what Credit Suisse prefers for the year

SINGAPORE (Jan 8): Credit Suisse is recommending Singapore investors stick with a portfolio of quality, high-yield stocks and stocks with low embedded expectations to ride out any volatility in 2019 while positioning for a market recovery.

And while the market’s upward momentum this year may be dulled by dimmer economic and corporate earnings growth outlook, the Swiss investment bank says the below-historical average market P/E of 11.4x and a compelling dividend yield of 4.4% make for an attractive risk-reward proposition for longer-term investors.

This is the year for office REITs to shine: OCBC

SINGAPORE (Jan 8): OCBC Bank is expecting Singapore office REITs to strengthen further in the near-term this year – and possibly, in the process, demand higher rents to bring about positive rental reversion.

In a Tuesday report, OCBC’s credit research team highlights office REITs as a bright spot among Singapore REITs (S-REITs), with the recent trend of strong new office supply looking to reverse in 2019.

Starhill Global REIT an attractive proxy to tourist arrivals amid retail headwinds: DBS

SINGAPORE (Dec 11): DBS Group Research is maintaining its “buy” on Starhill Global REIT (SG REIT) with an unchanged target price of 75 cents, which reflects more conservative discount rate assumptions due to a less-optimistic outlook of the trust’s retail portfolio in Singapore.

This is especially so for Wisma Atria, where DBS believes operating metrics have been soft although the bottom could be near, as recent material changes made to its trade mix on the ground floor could augur well for the mall.

CapitaLand invests $27 mil in co-working operator for new 'office of the future' strategy

SINGAPORE (Oct 2): CapitaLand has, through its subsidiary CL Kingdom Investment (CKI), subscribed for a 50% stake in The Work Project Kingdom (TWPK) for $13.5 million, with the intention of extending shareholder loans through CKI to TWPK.

TWPK owns the intellectual property rights to the brand The Work Project, a design-centric developer and operator of co-working offices in Hong Kong and Singapore.

Together with the subscription amount, the shareholder loans will bring CapitaLand’s total investment in The Work Project to $27 million.

How bullish will analysts go on Suntec REIT?

SINGAPORE (July 26): CGS-CIMB Research and DBS Vickers Securities are maintaining their “add” and “buy” calls with the respective price targets of $2.08 and $2.30, after the REIT manager on Wednesday posted a 2Q DPU of 2.47 cents which came in line with both research houses’

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