Fortune REIT

SINGAPORE (June 24): As expected, the US Federal Reserve kept interest rates unchanged at between 2.25% and 2.5%, following the conclusion of the Federal Open Market Committee (FOMC) meeting on June 18 and 19. This came amid growing economic uncertainty a

SINGAPORE (Jan 28): The manager of Fortune REIT has declared a distribution per unit of 51.28 HK cents (8.8 cents) for FY18, up 1% from 50.78 HK cents in FY17 due to revenue growth and lower expenses.

SINGAPORE (June 22): Earlier in June, John Lim, CEO of ARA Asset Management, and a pioneer of Singapore’ real estate investment trust sector, sat down with The Edge Singapore after just announcing a sterling set of results.

SINGAPORE (Jan 23): The manager of Fortune REIT has reported FY17 DPU of 50.78 HK cents (8.57 cents), 3.1% higher than a year ago.

SINGAPORE (Dec 20): The manager of Fortune REIT says it is selling Provident Square in Hong Kong for a consideration of HK$2 billion ($344.5 million) via its wholly-owned special purpose vehicle Elveden Enterprises, to Farsight Investment Limited.

SINGAPORE (Sept 20): Singapore’s 31 real estate investment trusts (REITs) and six stapled trusts have averaged a total return of 18.6% in the year to date, according to Singapore Exchange (SGX).

SINGAPORE (July 28): ARA Asset Management, the manager of Fortune REIT, reported interim DPU rose 3% to 25.53 HK cents (4.44 cents) from 24.78 HK cents a year ago.

This article appears in Issue 784 (June 19) of The Edge Singapore which is on sale now

SINGAPORE (Jan 26): ARA Asset Management (Fortune), the manager of Fortune Real Estate Investment Trust, has declared a 5.0% increase in distribution per unit (DPU) of 49.23 HK cents (9.01 cents), from 46.88 HK cents a year ago.

SINGAPORE (Aug 10): Daiwa is downgrading Fortune REIT to “outperform” from "buy" with a higher target price of HKD10.90 ($1.88) from HKD9.65 previously, following the REIT’s recent unit-price rally.