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
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
Far East Orchard acquires 49% stake in UK-based purpose-built student accommodation operator for £17.6 million
Frasers Centrepoint Trust posts 1.8% drop in H1 DPU to S$0.06022
MPACT posts 1.8% higher Q4 DPU of S$0.0229
CapitaLand China Trust posts 7.7% drop in Q1 NPI to 313.1 million yuan