HKG:1997

4 stories mentioning HKG:1997Updated just now

Every FINWIRES story that references HKG:1997, newest first.

Market Chatter: Wharf REIC Reportedly Seals Deal to Sell Last Singapore Property

Wharf Real Estate Investment (HKG:1997) is a step closer to exiting the Singapore market as it agreed to sell its last mall in the city-state, Bloomberg News reported Wednesday, citing people with knowledge of the matter.The 12,160-square-meter Scotts Square property is being sold to local property tycoons Raj Kumar and Kishin RK for SG$310 million, according to the report.Hong Kong-based Wharf REIC did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:1997

Asia34d ago

Wharf REIC's H1 Loss Narrows; Boosts Interim Dividend; Shares Jump 11%

Wharf Real Estate Investment or Wharf REIC's (HKG:1997) attributable loss for the six months ended June 30 narrowed to HK$176 million from a loss of HK$2.41 billion in the year-ago period, according to a Hong Kong bourse filing Thursday.Loss per share stood at HK$0.06 per share compared to HK$0.79 a year earlier.The property company generated HK$6.34 billion in revenue during the first six months of the year, down from HK$6.41 billion previously.The company declared a first interim dividend of HK$0.94 per share, payable Sept. 10 to shareholders of record on Aug. 26. The latest dividend increased 42% from the HK$0.66 payout declared a year ago.Shares of the property company jumped nearly 11% in recent trade.

HKG:1997

Asia40d ago

Hongkong Land Fund to Acquire Singapore's Wheelock Place for SG$1.1 Billion

Hongkong Land Holdings' (SGX:H78) newly established private real estate vehicle, the Singapore Central Private Real Estate Fund (SCPREF), has agreed to acquire the Wheelock Place commercial development in Singapore for approximately SG$1.1 billion, according to a Thursday filing to the Singapore bourse.The property will be acquired from Wharf Real Estate Investment (HKG:1997), marking the fund's maiden deal since its inception in February. The acquisition encompasses Wheelock Place's 21-story commercial tower and retail podium, which cover approximately 43,280 square meters of gross floor area.The transaction is expected to be completed by the end of August, after which SCPREF's assets under management will increase to SG$9.4 billion from SG$8.2 billion at inception. It is expected to be accretive to Hongkong Land's underlying earnings upon completion.Hongkong Land said it will invest additional equity to maintain its existing majority equity stake in the fund with other investors and will earn additional management fees from the increase in AUM.

HKG:1997SGX:H78

Asia61d ago

Market Chatter: Wharf REIC Plans Divestment of Singapore Mall Properties

Wharf Real Estate Investment (HKG:1997) is eyeing the disposal of the Wheelock Place and Scotts Square malls in Singapore, Bloomberg reported Friday citing people familiar with the matter.Wharf is reportedly targeting a sale price higher than the HK$7.7 billion valuation of the properties as of end-2025, according to its recent annual report.The property investment company is aiming to expedite the sale of Scotts Square first amid problems including a high tenant turnover and low footfall, Bloomberg said, citing the people.Wharf owns the properties, located in the Orchard Road shopping district, through a unit in Singapore, according to the report.Wharf Real Estate Investment did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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