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Singapore Exchange (SGX) is pleased to welcome Daiwa House Logistics Trust (DHLT) to its Mainboard under the stock code “DHLU”.
Daiwa House Logistics Trust is a Singapore real estate investment trust (S-REIT), with an initial portfolio of 14 high-quality modern logistics properties in Japan. Its assets are well diversified across Japan, with a balanced mix of freehold and leasehold assets and a blue-chip tenant base. The REIT’s Sponsor is Japan-listed Daiwa House Industry Co., Ltd. which has extensive track record in real estate and experience in asset and fund management.
Takeshi Fujita, Chief Executive Officer, Daiwa House Asset Management Asia Pte. Ltd., said, “We are pleased to have received such strong support from Cornerstone, institutional and retail investors for our Offering. We believe that this is testament to the attractiveness of our portfolio of high-quality modern logistics properties, as well as the strength of our Sponsor – Daiwa House Industry Co., Ltd., one of the largest construction and real estate development companies in Japan. The Sponsor has granted a right of first refusal to DHLT over the Sponsor’s pipeline of assets in Southeast Asia and Japan. With committed support from the Sponsor and backed by the solid fundamentals of the logistics market in Japan and Southeast Asia, we aim to generate stable distributions for the Unitholders, while achieving long-term growth.”
Mohamed Nasser Ismail, Head of Equity Capital Markets, SGX, said, “As Asia’s global REIT hub, we are delighted to welcome Daiwa House Logistics Trust, a Japan pure-play logisitics REIT with a firm commitment to environmentally sustainable practices. Amid the pandemic, we continue to see strong investor demand for REITs which offer attractive yields with low volatility and good liquidity. In particular, the industrial S-REIT sector has remained resilient and is one of the best performing and largest segments of the local REIT market. We look forward to working alongside Daiwa House Logistics Trust as it taps into the growth opportunities in Japan and across Southeast Asia.”
The listing of Daiwa House Logistics Trust brings the total number of SGX-listed REITs and property trusts to 43, with a combined market capitalisation of about S$114 billion. Together with real estate companies, the overall SGX real estate cluster has a combined market capitalisation of about S$190 billion.
Daiwa House Logistics Trust opened at S$0.805 today.
