Invest In Orchard Road Assets and Earns 6.77% yield
Starhill Global REIT is a real estate investment trust (REIT), owns stakes in prime retail properties in Singapore, Malaysia, Australia, China, and Japan.
In Singapore, the REIT has a stake in Wisma Atria and the iconic Ngee Ann City that’s located in Singapore’s prime Orchard Road shopping belt.
Ho Sing, the CEO of Starhill Global REIT’s manager, summarized the reporting quarter (Oct to Dec 2016) and the REIT’s outlook with the following comments:
“Amidst market challenges, the REIT has pulled in a relatively resilient performance with healthy portfolio occupancy of 95.4% as at 31 December 2016.
The asset redevelopment for Plaza Arcade in Perth, Australia and the mall repositioning in China are progressing according to schedule. Notices for the recovery of affected units by the asset redevelopment in Plaza Arcade have been served while construction work is expected to commence in mid-2017. The mall’s retail floor space will be expanded by 33% to accommodate a new international tenant.
We have ceased operations in our China mall in preparation for the handover to our new tenant, Markor International Home Furnishings Co., Ltd in the next quarter. This new long term fixed lease tenancy is expected to stabilise China’s income stream.”
This REIT is beneficiary of growth in Singapore's tourism with its key assets located in the coveted Orchard Road area.
Currently share price is near to 1 year low. Dividend yield is 6.77%.
Chart from Bloomberg
In Singapore, the REIT has a stake in Wisma Atria and the iconic Ngee Ann City that’s located in Singapore’s prime Orchard Road shopping belt.
Ho Sing, the CEO of Starhill Global REIT’s manager, summarized the reporting quarter (Oct to Dec 2016) and the REIT’s outlook with the following comments:
“Amidst market challenges, the REIT has pulled in a relatively resilient performance with healthy portfolio occupancy of 95.4% as at 31 December 2016.
The asset redevelopment for Plaza Arcade in Perth, Australia and the mall repositioning in China are progressing according to schedule. Notices for the recovery of affected units by the asset redevelopment in Plaza Arcade have been served while construction work is expected to commence in mid-2017. The mall’s retail floor space will be expanded by 33% to accommodate a new international tenant.
We have ceased operations in our China mall in preparation for the handover to our new tenant, Markor International Home Furnishings Co., Ltd in the next quarter. This new long term fixed lease tenancy is expected to stabilise China’s income stream.”
This REIT is beneficiary of growth in Singapore's tourism with its key assets located in the coveted Orchard Road area.
Currently share price is near to 1 year low. Dividend yield is 6.77%.
Chart from Bloomberg
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