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Mapletree Logistics Trust to pick up 4 Sydney warehouses for A$85m

Singapore FRESH from raising S$250 million through issuing perpetual securities earlier this month, Mapletree Logistics Trust (MLT) has unveiled plans to use up a chunk of the proceeds to scale up in Australia. The logistics real estate investment trust (Reit) announced plans to pay A$85 million or about S$84.4 million for four dry warehouse facilities in Sydney offering a net property income yield of 7.1 per cent in a Singapore Exchange filing on Sunday evening, adding that it expected the acqu ...more

CDL to home in on strategic investments in real-estate firms

Singapore CITY Developments Limited (CDL) is eyeing strategic investments in real-estate companies to take advantage of the current price discount in equity markets, under its plan to deploy S$5 billion in overseas expansion over five years. Already, over S$2 billion of that budget has been deployed - mainly in direct-asset acquisitions - in the past two years, still leaving the group with ample headroom until 2018. Group chief executive Grant Kelley said that this is part of the 5-5-5 strategy ...more

Shunfu Ville sold for S$638m to Qingjian

Singapore SHUNFU Ville was sold to developer Qingjian Realty for S$638 million on Thursday, marking the largest collective sale since 2007. This translates to a total land cost of S$747 per square foot per plot ratio on potential gross floor area, after factoring in differential premium payable to the state to top up the lease to a fresh 99-year lease and for intensification of the site, according to JLL, the sole marketing agent for the collective sale. Owners holding 80 per cent of the develop ...more

CDL sets new targets for sustainability

Singapore HAVING enjoyed more than S$31 million in power savings between 2008 and 2015, City Developments Ltd (CDL) now wants to up its game in sustainability, with new targets to be achieved in the next 4-14 years. By 2020, the property developer wants to reduce its energy and water intensity by 22 per cent, from baseline year 2007. By 2030, the reduction target is 25 per cent, from the same baseline year. These new targets are in addition to CDL's existing carbon emissions intensity reduction ...more

Mapletree bets more than �500m on UK business park

Singapore IN what is one of the biggest offshore property deals by a Singapore company in recent years, Mapletree Investments is paying more than �500 million (S$1 billion) for a 79-ha, freehold business park in the UK from Oxford Properties Group. This also marks Mapletree's largest acquisition outside Asia. The Temasek unit said on Wednesday that the acquisition of Green Park is in line with its strategy to seize new growth opportunities in developed markets such as the UK, underpinned by st ...more

Freehold site in Novena up for sale for S$26m

CBRE has launched an expression of interest (EOI) for the sale of a freehold site at 2 Derbyshire Road. Nestled in Novena within an established residential enclave, the 6,768 sq ft site comes with an existing four-storey building and its current gross floor area is about 8,742 sq ft. The guide price is about S$26 million. Located just off the main junction of Thomson Road, the site is zoned for civic and community institution. It is served by various transport nodes with easy accessibility to to ...more

NRF to put up S$85m VC funds jointly with CapitaLand, DeClout, Wilmar, YCH

Singapore LARGE local enterprises (LLEs) are waking up to the idea of startup energy. CapitaLand, DeClout, Wilmar and YCH said on Tuesday they will partner the National Research Foundation (NRF) to jointly invest up to S$85 million in Singapore-based tech startups. While it will be a challenge to bridge the two cultures, the combination of an innovative startup and a resourceful corporate will be powerful, and will create good jobs and value for the economy, observers said. NRF will commit S$40 ...more

Lum Chang in JV for mixed-use M'sia project

Singapore CONSTRUCTION company Lum Chang Holdings (LCH) has tied up with Bursa-listed Tien Wah Press Holdings Berhad (TWPH) through a joint venture to undertake a mixed-use development in Malaysia. This JV, in turn, has agreed to acquire a piece of land from a TWPH unit for RM63.75 million (S$21.68 million). In a filing on Monday, LCH said it had on May 16, through its wholly owned unit Kemensah Holdings Pte Ltd, inked a shareholders' agreement with TWPH's unit Tien Wah Properties Sdn Bhd (TWPSB ...more