CMT is divesting its service apt component of the new Funan Integrated Development for a gain of about $20 million sometime in Q4 this year. Announced on 4 Aug and price had chionged up abt 12 cents since.
Reply to @layers : FCT and CMT are correlated.. I have faith in both. It's just that some investors want retail reits in their portfolio so CMT previously was the cheaper one so they bought it up so now both price are about the same. No worries.
'According to media reports, Century Square, which is located in Tampines and managed by AsiaMalls Management Pte Ltd, is undergoing a refurbishment exercise which will cost ~S$60m. This will result in temporary closure of the mall, and the reopening is expected in 2H18. The mall has an occupancy rate of ~98%, as reported by The Business Times. We believe CapitaLand Mall Trust’s (CMT) Tampines Mall (TM) will be a beneficiary of this event in the near-term, given its close proximity to Century Square. According to AsiaMalls’ website, Century Square has 125 retail outlets and drew 11.7m in shopper traffic last year. Key retailers of Century Square include NTUC FairPrice Finest, Century Cineplex (operator is Shaw Theatres) and BHG. Hence, movie-goers would have to go to TM’s Golden Village cinema as the next nearest alternative. This would also have a positive spillover effect on other retail outlets in the mall, especially F&B. However, once Century Square reopens, there will be increased competition again, as new tenants include cinema operator Filmgarde, Hai Di Lao hotpot and lifestyle grocer Mahota Market. Notwithstanding this, we expect TM to remain resilient given its strategic location and large residential catchment in Tampines.'
Reply to @Elliot : As a eastsider, less competition from Century Square means Tampines Mall gains. But Asiamalls operating two malls in Tampines MRT area. The other one is Tampines One so to them, they can cover.
mct down cmt up fct stagnant
CMT is divesting its service apt component of the new Funan Integrated Development for a gain of about $20 million sometime in Q4 this year. Announced on 4 Aug and price had chionged up abt 12 cents since.
Reply to @layers : FCT and CMT are correlated.. I have faith in both. It's just that some investors want retail reits in their portfolio so CMT previously was the cheaper one so they bought it up so now both price are about the same. No worries.
'According to media reports, Century Square, which is located in Tampines and managed by AsiaMalls Management Pte Ltd, is undergoing a refurbishment exercise which will cost ~S$60m. This will result in temporary closure of the mall, and the reopening is expected in 2H18. The mall has an occupancy rate of ~98%, as reported by The Business Times. We believe CapitaLand Mall Trust’s (CMT) Tampines Mall (TM) will be a beneficiary of this event in the near-term, given its close proximity to Century Square. According to AsiaMalls’ website, Century Square has 125 retail outlets and drew 11.7m in shopper traffic last year. Key retailers of Century Square include NTUC FairPrice Finest, Century Cineplex (operator is Shaw Theatres) and BHG. Hence, movie-goers would have to go to TM’s Golden Village cinema as the next nearest alternative. This would also have a positive spillover effect on other retail outlets in the mall, especially F&B. However, once Century Square reopens, there will be increased competition again, as new tenants include cinema operator Filmgarde, Hai Di Lao hotpot and lifestyle grocer Mahota Market. Notwithstanding this, we expect TM to remain resilient given its strategic location and large residential catchment in Tampines.'
Source: OCBC Market Pulse 18 August
Reply to @Elliot : As a eastsider, less competition from Century Square means Tampines Mall gains. But Asiamalls operating two malls in Tampines MRT area. The other one is Tampines One so to them, they can cover.