Bookmark & Share
by Cheryl Tay
Credit Suisse believes that DBS Group Holdings’ acquisition of a 30 percent stake in Marina Bay Financial Centre (MBFC) Tower 3 (pictured) signals a continued increase in capital values and fundaments for prime grade A office space, reported The Business Times.
However, this may also mean that Suntec Real Estate Investment Trust (REIT) will not acquire a stake in the office tower as initially expected; hence, limiting the acquisition pipeline of the Reit.
Credit Suisse noted, “This means that Suntec’s future injection pipeline may be limited as Cheung Kong has no further assets in Singapore.”
Previously, the commercial Reit managed by ARA Asset Management Ltd had taken up stakes in other offices such as One Raffles Quay. ARA is an affiliate of of Cheung Kong (Holdings) Ltd.
Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email cheryltay@propertyguru.com.sg
Related Stories:
Business confidence takes a dive: survey