SPH Reit will rename as Paragon Reit from January 2023

SPH Real Estate Investment Trust (Reit) : SK6U 0% will be renamed to Paragon Reit as the name change will better reflect the trust’s vision and mission to capture unique opportunities in the Asia-Pacific retail landscape, the Reit manager said on Thursday (Dec 29).

The names of its security, counter and manager – along with the Reit’s logo and website – will reflect the new name with effect from 9 am on Jan 3, 2023.

The Reit manager added that the trust will be “bolstered by the deep real estate sector knowledge and strong relationships” of its sponsor, Cuscaden Peak Investments.

Cuscaden Peak Investments was formerly known as Singapore Press Holdings, and is a wholly-owned subsidiary of Cuscaden Peak. Cuscaden Peak is a consortium comprising tycoon Ong Beng Seng’s Hotel Properties Limited, and Temasek-linked CLA Real Estate Holdings and Mapletree.

The Reit’s existing counter code – “SK6U” – on the Singapore Exchange will remain unchanged.

It will also continue to be led by the current management team, retain its investment mandate, and manage its existing portfolio of assets.

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SPH Reit’s portfolio includes its anchor asset, Paragon, along with The Clementi Mall and The Rail Mall. It has two more such facilities in Australia.

“Our change in name underscores our mission to be the landlord of choice, and to provide our unitholders with sustainable long-term growth,” said Leong Horn Kee, chairman of the Reit.

Units of SPH Reit were down 0.6 per cent or S$0.005 to S$0.895 as at 10.30 am on Thursday.