Tag Archives: Funds

A-REIT acquires $110m site at Fusionopolis

Posted on 8 Jun 2011 | Comments Off on A-REIT acquires $110m site at Fusionopolis

The manager of Ascendas Real Estate Investment Trust (A-REIT) says it has acquired a 6,253 square metre business park site at Fusionopolis for $110 million through a public tender by JTC Corporation.

Located within walking distance to the one-north Mass Rapid Transit (MRT) station which is expected to be operational in 4Q2011, the site has a land area of 6,253 sqm with a 60-year leasehold interest and an allowable plot ratio of 4.0 times. The site is also easily accessible via the Ayer Rajah Expressway.

The manager believes that the development of the site will provide unitholders of A-REIT with potentially greater returns compared to outright acquisitions of income-producing properties and thus improve the net asset value of A-REIT’s portfolio as A-REIT will receive any benefit of unrealised valuation gain from the development of the site.

As part of listing rules, A-REIT has declared JTC is a controlling unitholder of the REIT manager.

Source : TheEdge – 8 Jun 2011

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First REIT makes it to MSCI Singapore index

Posted on 2 Jun 2011 | Comments Off on First REIT makes it to MSCI Singapore index

First Real Estate Investment Trust says it has been included in the MSCI Singapore Index with effect from 1 June 2011.

MSCI is a leading provider of investment decision support tools worldwide, including indices, portfolio risk and performance analytics and corporate governance services.

The MSCI indices are among the most widely tracked global equity benchmarks covering companies with good operational results and growth prospects. By being a constituent stock on the MSCI Singapore Index, First REIT can be better tracked by a wider group of institutional investors and funds on a global platform.

MSCI’s indices are market capitalisation-weighted and serve as the basis for over 400 exchanged-traded funds throughout the world. MSCI conducts its index reviews four times each year, with the latest changes being implemented at the close of market on 31 May 2011.

Source : TheEdge – 1 Jun 2011

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