---
title: S-REITs - Week 51 - 2024
description: Get the latest updates on major developments in Singapore REITs for Week 51 of 2024, including divestments, acquisitions, loan facilities, and leasing activities.
---

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[S-REIT Weekly Recap](https://reitsavvy.com/insights/tag/s-reit-weekly-recap), [2024](https://reitsavvy.com/insights/tag/2024)

# S-REITs - Week 51 - 2024

[By- REITsavvy Team,](https://reitsavvy.com/insights/author/reitsavvy-team)

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Let's have a quick dive into this week REITs update from Mapletree Logistics Trust, CapitaLand Ascendas REIT, Keppel DC REIT, ESR REIT, Far East Hospitality Trust, IREIT Global, OUE REIT, Cromwell European REIT

**S-REITs Recap - Week 51**

** 16 Dec - 22 Dec 2024**

| **Mapletree Logistics Trust** |
| --- |
| **( YTD: -28.16% \| 5D: -1.57%)** |
|  10 Dec - Proposed Divestment Of A Property In Singapore - Entered into a Purchase Agreement with an unrelated third party for the proposed divestment of 1 Genting Lane in Singapore at a sale price of S$12.3 million - JTC Corporation has granted in-principle approval for the transaction subject to the parties complying with the stipulated conditions. - Capital released from the divestment will provide MLT with greater financial flexibility to pursue investment opportunities in high specification, modern logistics facilities with higher growth potential. - The Property is a 36-year old industrial building comprising a seven-storey warehouse with an office and showroom. It has a net lettable area of approximately 6,050 square metres (“sqm”) on a land site of around 3,372 sqm. The sale price of S$12.3 million is 35.2% above the latest valuation of S$9.1 million as at 1 October 2024. For more information, please click [here](https://www.mapletreelogisticstrust.com/~/media/MLT/Newsroom/Press%20Releases/2024/Dec/20241216-MLT-1%20Genting%20Lane%20Divestment_final.pdf) |

| ** CapitaLand Ascendas REIT** |
| --- |
| **( YTD: -16.83% \| 5D: -1.18%)** |
| 17 Dec - CapitaLand Ascendas REIT To Expand Its US Logistics Portfolio With First Sale And Leaseback Acquisition From DHL USA For S$150.3 Million - Property is fully occupied by the blue-chip tenant with a long lease term and annual rent escalations which provide income stability - The proposed acquisition of DHL Indianapolis Logistics Center, a modern Class A logistics property - The Property is located in Whiteland, a submarket in southeast Indianapolis, Indiana, in the United States  - **Rationale and Merits of the Proposed Acquisition** 1. Expands CLAR's existing logistics portfolio in the US 2. Fully occupied by a blue-chip tenant with a long term lease which provide income stability 3. Modern Class A logistics property enhances quality of CLAR’s portfolio 4. Indianapolis’s logistics sector underpinned by its geographically central location and superior transportation networks 5. Sound logistics market fundamentals in Indianapolis 6. CLAR’s logistics portfolio is strategically well-positioned in the US 7. Distribution per Unit (“DPU”) accretive acquisition For further information, please click [here](https://investor.capitaland-ascendasreit.com/newsroom/20241217_060214_A17U_TNO65FU5AVA6YGNN.1.pdf) |

| **Keppel DC REIT** |
| --- |
| **( YTD: +8.72% \| 5D: -4.07%)** |
| 19 Dec - Loan Facility obtained by Keppel DC REIT Group - **Loan Facility** - S$100,000,000 revolving credit facility - **Relevant Conditions** - Under the terms and conditions of the Facility Agreement, the Borrower will be required to pay all outstanding loans together with accrued interest and all other moneys owing under or pursuant to the Loan Facility within 10 business days in the event that the Manager ceases to be a subsidiary (whether directly or indirectly) of Keppel Ltd. For further information, please click [here](https://wpcms.kepcorp.com/wm/cms-site/kpl/file/media/2024/Dec/19-dec-kdcreit/kdc-reit-sgx-announcement.pdf) |

| **ESR REIT** |
| --- |
| **( YTD: -21.87% \| 5D: -1.96%)** |
| 18 Dec -  Share Buy Back - Daily Share Buy-Back Notice - Repurchased 2,000,000 units at SG$0.2594 each For further information, please click [here](https://esr-reit.listedcompany.com/news.html/id/2523524) |

| **Far East Hospitality Trust** |
| --- |
| **( YTD: -10.53% \| 5D: -3.25%)** |
| 20 Dec -  Sustainability-Linked Facility Agreements - Entered into a S$82.15 million sustainability-linked facility agreement and a S$75 million sustainability-linked facility agreement with institutional banks both on 19 December 2024 For further information, please click [here](https://feht.listedcompany.com/newsroom/20241220_071517_Q5T_ONTG85IF0IRZ8D0P.1.pdf) |

| **IREIT Global** |
| --- |
| **( YTD: -30.86% \| 5D: +0%)** |
| 19 Dec -  IREIT Inks Another Major Hospitality Lease At Berlin Campus, Riding On Its Strong Leasing Momentum - Long lease duration of 20 years with no break option, step-up rents in the first three years, and annual CPI indexation starting from the fourth year - Commitment for total gross floor area of approximately 20,948 sqm (24% of net lettable space) at Berlin Campus now secured in advance of its strategic repositioning - Positive leasing activity also experienced across IREIT’s portfolio assets, where new leases were recently secured at the German and Spanish properties For further information, please click [here](https://investor.ireitglobal.com/newsroom/20241219_194122_UD1U_ECMVLVS62YIHWIUK.1.pdf) |

| **OUE REIT** |
| --- |
| **( YTD: -5.26% \| 5D: -3.57%)** |
| 20 Dec - Divestment of Lippo Plaza Shanghai - Divest the entire equity interest of Lippo Realty (Shanghai) Limited which owns 91.2% share of strata ownership of Lippo Plaza in Shanghai for a sale consideration of RMB1,917.0 million (approximately S$357.4 million) and an agreed property value of RMB1,680.0 million (approximately S$313.2 million). - The estimated net property yield is 5.7% per annum - Lippo Plaza is a non-core asset, contributing only 6.6% of OUE REIT’s total portfolio revenue as of September 2024 For further information, please click [here](https://investor.ouereit.com/newsroom/20241220_220414_TS0U_S6QEBTH4AYNGI652.2.pdf) |

| **Cromwell European REIT** |
| --- |
| **( YTD: +9.86% \| 5D: -2.50%)** |
| 20 Dec - Divests Two Assets In Italy For EUR20.9 Million - Entered into two separate sale and purchase agreements to divest two office assets in Italy 1. Via Rampa Cavalcavia 16-18 in Venice Mestre (“Mestre”) 2. Via della Fortezza, 8 in Florence (“Firenze”) - Two divestments in Italy at a total price of €20.9 million (S$29.6 million1) at a blended 7.7% premium to the latest valuations. For further information, please click [here](https://investor.cromwelleuropeanreit.com.sg/newsroom/20241220_070419_CWCU_KYB0A3LHA8RHEDSH.1.pdf) |

| **Singapore REITs Monthly Update (Nov 2024)** |
| --- |
|   **Technical Analysis of FTSE ST REIT Index (FSTAS351020)** --- FTSE ST Real Estate Investment Trusts (FTSE ST REIT Index) decreased from 649.94 to 642.87 (-1.09%) compared to [last month's update](https://reitsavvy.com/insights/singapore-reits-monthly-update-09-november-2024). Singapore REITs index is currently trading near the support level of a wedge pattern. •    Short-term direction: Sideways•    Medium-term direction: Sideways •    Long-term direction: Sideways •    Immediate Support: Blue Support Line (Wedge) •    Immediate Resistance: Red resistance line (Wedge) Want to read more with charts? Please click [here](https://reitsavvy.com/insights/singapore-reits-monthly-update-08-december-2024) |

| **Upcoming Event** |
| --- |
|   [![8-Jan-REIT-Market-Outlook-P_Revised](https://reitsavvy.com/hs-fs/hubfs/Others/2024/SGX%20Event%20-%208%20Jan%202025%20Poster/8-Jan-REIT-Market-Outlook-P_Revised.jpg?width=1654&height=3859&name=8-Jan-REIT-Market-Outlook-P_Revised.jpg)](https://www.sgxacademy.com/event/singapore-reits-outlook-whats-ahead-for-2025/?doing_wp_cron=1733555524.0291481018066406250000)   |

| **STI Index constituents** |
| --- |
| **REITs in STI** |
| Frasers Centrepoint Trust 18 Mar 2024 |
| CapitaLand Ascendas REIT |
| CapitaLand Integrated Commercial Trust  |
| Frasers Logistics & Commercial Trust |
| Mapletree Industrial Trust |
| Mapletree Logistics Trust |
| Mapletree Pan Asia Commercial Trust |
|   |
| **REITs in STI Reserve List** |
| Keppel DC REIT |
| Keppel REIT |
| Suntec REIT |

| **REITracker Highlights** |  |
| --- | --- |
| **REIT Name** | **Status** |
| Keppel Pacific Oak US REIT | Halt Dividend since 14 Feb 2024 |
| Manulife US REIT | Halt Dividend since 14 Aug 2023 |
| Sabana REIT | Proposed Internalization is in progress since 17 Aug 2023 |
| Lippo Malls Indonesia Retail Trust | Halt Dividend since 20 Mar 2023 |
| EC World REIT | Halt Trading since 31 March 2023 |
| Eagle Hospitality Trust | Halt Trading since 24 March 2020 |

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