Thu, 14/08/2014 - 06:25
IREIT Global has listed on Singapore Exchange’s (SGX) Mainboard under the stock code UD1U.
IREIT Global is the first SGX-listed office REIT focusing only on real estate in Europe.
Its initial portfolio comprises four office properties in Germany in key cities of Bonn, Darmstadt, Münster and Munich, valued at approximately SGD478 million.
“We are delighted that IREIT is the first pure-play REIT with German assets to list in Singapore as well as in Asia. Our initial portfolio of quality freehold office assets in key German cities with strong economic growth differentiates us from market peers, positioning IREIT favourably and giving investors another choice investment option. IREIT’s listing provides a platform for us to seek accretive acquisitions in the interest of unitholders,” says Itzhak Sella, founder and CEO of IREIT Global.
“We welcome IREIT Global to Mainboard. Its focus in Europe adds geographical diversity to our REITs cluster and provides our global investors with access to the property sector in Germany and Europe. We look forward to welcoming more REITs and real estate companies from Europe to tap into Asia’s growing wealth base via a listing on SGX,” says Lawrence Wong, head of listings at SGX.
With an IPO market capitalisation of about SGD370 million, IREIT Global brings the total number of REITs and property trusts listed on SGX to 39 with a combined market capitalisation of more than SGD68 billion.
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