Singapore Exchange (SGX) today welcomed Elite Commercial REIT, the first UK-focused Singapore REIT, to its Mainboard under the stock code “MXNU”.
Elite Commercial REIT has an initial portfolio of 97 commercial buildings located across the United Kingdom. Over 99% of the REIT’s gross rental income is derived from leases with the UK government via The Secretary of State for Housing, Communities and Local Government.
Shaldine Wang, CEO, Elite Commercial REIT Management Pte. Ltd., said, “Bearing many firsts, we are thrilled to be the first pound-denominated and the first UK-focused REIT on the Singapore Exchange. Our portfolio, which is over 99.0% leased to the U.K. government, provides attractive yields, and we are committed to providing long-term sustainable value to our Unitholders. We would like to thank all our investors, sponsors and stakeholders, including the SGX, for their support to realise this listing!”
Mohamed Nasser Ismail, Global Head of Equity Capital Markets, SGX, said, “We are delighted to welcome Elite Commercial REIT to our expanding suite of REITs with international assets. As the first pound-dominated REIT listing on SGX, it demonstrates the breadth and depth of our REIT sector and enhances our position as a global REITs hub. This listing provides investors with even more choice and another unique opportunity to invest in the UK real estate market.”
The listing of Elite Commercial REIT brings the total number of SGX-listed REITs and property trusts to 44, with a combined market capitalisation of about S$115 billion. Together with real estate companies, the overall SGX real estate cluster has a combined market capitalisation of over S$200 billion.
Elite Commercial REIT opened at £0.705 today.
