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Quill Building 1 (DHL 1), Kuala Lumpur |
“CRCT sets the
standards for quality
cross border REIT listings
in Singapore. The 196
times subscription from
international institutional
investors and 39 times
subscription from
local retail investors
demonstrate their
confidence in our retail
execution capabilities,
and the strong retail
growth potential in
China. We will continue
to leverage on our
multi-pronged strategy
to deliver stable and
growing distributions
to unitholders.”
Mr Lim Beng Chee
CEO, CapitaRetail China Trust Management Limited
Gulf Co-operation Council Region
In December 2006, CFL launched
Raffles City Bahrain Fund, the first equity
Sukuk of its kind for a real estate project
and CapitaLand’s second Shariah-compliant
real estate product. Named
Raffles City Bahrain Fund, it will invest in
Raffles City Bahrain, a prime waterfront
integrated development at Bahrain
Bay in Manama, Bahrain’s capital city.
CapitaLand intends to hold between
20% to 30% interest in the fund.
Moving Ahead
Moving ahead, CFL targets to
increase its AUM to over S$18 billion
by end-2007. It will grow its existing
REITs and private equity funds through
proactive asset enhancement and
competitive acquisitions, while originating
new ones in new markets and real
estate sectors to meet fresh investor
demands. In particular, the combined
market capitalisation of Asian REITs is
expected to grow from US$43.7 bilion
to above US$400 billion in the next two
decades. CapitaLand aims to double
its number of REITs from five (including
ART) to 10 over time. CFL also plans to
introduce more Shariah-compliant
products and funds to meet the
demands of Islamic investors globally.
“QCT received strong
endorsement from both
retail and institutional
investors. It closed 17%
higher than its retail offer
price of 84 sen per unit
on the first day of trading
on 8 January 2007. We
will continue to look
out for yield accretive
acquisitions and asset
enhancement initiatives
to grow the value of
our portfolio rapidly.”
Mr Chan Say Yeong
CEO, Quill Capita Management Sdn Bhd
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