Commercial Property

More than two-thirds of the property’s gross floor area will be leased to Philipps.

Reopening of the retail sector spurred interest in strata retail spaces.

The unit is located at 2 Greenwood Avenue.

The REIT said higher car park income was amongst the factors that drove the increase.

The property will be acquired through the Ascott Serviced Residence Global Fund.

The increase was on the back of the trust’s higher revenue and gross operating profit.

The net property income was at $70m (US50.8m).

Net demand for offices amounted to 136,00 square feet.

The increase was driven by contributions from its newly acquired properties.

The 145 units sold totaled $365.1m.

Compared to H221, the H122 figure represents a 15.7% decline.

CICT will likely embark on an equity fund-raising if its bid is successful.

The logistics hub will sell for $43.5m.

Tender sales for the properties will close on 9 and 7 September, respectively.

Its net property income stood at $103.3m.

The cessation of rental rebates in Malaysia contributed to the increase.