Today's news selection contains the latest real estate related stories. Do you own a real estate/property/finance blog or news site? Send the URL to [email protected] so our editors can use them as sources.
City Developments has selected banks to help with a potential listing on the Singapore stock exchange of its UK commercial properties, according to people familiar with the matter.
The homebuilder is working with DBS Group Holdings and Oversea-Chinese Banking Corporation on the planned initial public offering, said the people, who asked not to be named as the information is private. The company is considering listing the assets as a real estate investment trust as soon as by the end of this year, and could raise as much as $700 million, the people said.
City Developments will be joining companies such as Singapore Press Holdings and Hong Kong developer Far East Consortium International in seeking REIT listings on the city-state’s benchmark exchange this year. Singapore has hosted US$2.6 billion ($3.6 billion) of property trust IPOs over the last 12 months, according to data compiled by Bloomberg.
Real estate related news stories from Singapore
- Unitholders greenlight FLT and FCOT merger
- PropertyGuru launches mortgage marketplace PropertyGuru Finance
- Singapore tops Asian outbound real estate investment for 2nd consecutive year: CBRE
- Is ESR-REIT (SGX: J91U) Share Price At S$0.51 Considered A Steal?
- Best Performing Singapore REITs amid current market volatility
Must-read if you live in Singapore
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About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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