The proposed acquisition will enable the group to expand its Travelodge hotels in Asia from four hotels in Hong Kong and Thailand.
CapitaLand says the bottomline was lifted by better operating performance, higher revaluation gains from investment properties in Singapore and China...
DBS also expects developers to pump more capital into the local property market which is ending a period of oversupply amid a stable environment.
The net asset value of the stake was valued at US$4.7 million (S$6.4 million or RM20.13) as at June 30.
Regal International's Malaysian subsidiary Temasek Regal Capital signed a conditional sale and purchase agreement to acquire Wisma Majuniaga for RM11.5 million (S$3.7 million) from Twin Revenue.
The potential GLP delisting will benefit other indexed property stocks with CapitaLand as a key beneficiary as fund managers seek alternatives to allocate property funds.
The offer price represents an 81% premium over 12-month VWAP and exceeds the highest ever closing price since listing.
CapitaLand recently announced its serviced residence segment, The Ascott, will acquire for A$180 million (RM588 million) an additional 60% stake in Quest Apartment Hotels.
Developer Wee Hur has set up a trust to fund to build 5,000 student accommodation beds in Australia’s major cities, starting with Brisbane and Adelaide.