Timely for CityDev to launch a UK Reit?
PROPERTY heavyweight C09(CDL) is having a torrid time. It wrote down S$1.78 billion of its investment in Sincere Property Group, which contributed to a net loss of S$1.92 billion for the full year ended Dec 31, 2020.
The group saw improvement across its core business segments in Q1 2021. But its large hotel business struggled, with revenue per available room globally down 52 per cent year on year.
Recently reported developments about CDL's planned listing of a real estate investment trust (Reit) may, therefore, be welcomed by investors.
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Reits & Property
ARA H-Trust Q1 net property income up marginally to US$6.4 million
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Elite Commercial Reit’s Q1 DPU down 21.2% to £0.0067
CapitaLand India Trust to acquire 2.5 million sq ft of IT buildings in Hyderabad
Prosper Cap halts operations at UK hotel after fire breaks out