Advertisement
Singapore markets closed

  • Straits Times Index

    3,174.11
    -13.55 (-0.43%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,825.08
    -51.97 (-0.66%)
     

  • Bitcoin USD

    64,758.82
    +3,205.05 (+5.21%)
     

  • CMC Crypto 200

    1,333.81
    +21.18 (+1.62%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,399.50
    +1.50 (+0.06%)
     

  • Crude Oil

    83.21
    +0.48 (+0.58%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Ascendas REIT completes China exit

Singapore Business Review
Ascendas Business Park

Singapore and Australia are its new focus.

Ascendas REIT (A-REIT) announced that it has entered into a Sale and Purchase agreement with two indirect wholly-owned subsidiaries of China Vanke for the divestment of its A-REIT City@Jinqiao business park property in Shanghai for an attributable property value of $221.6m.

According to OCBC Investment Research, this is A-REIT’s last remaining property in China following the divestment its two other China properties this year.

The attributable property value of S$221.6m is approximately 1.8x of the original property value of S$122.3m when it was acquired in 2013, and is also 8.6% above the property’s book value of S$204.0m, as of the end of March.

ADVERTISEMENT

"Given its proposed divestment of its last property in China, we now expect A-REIT to focus on expanding its footprint in Singapore and Australia," OCBC stated.



More From Singapore Business Review