Latest news with #CapitaSpring
Time of India
2 days ago
- Business
- Time of India
Singapore's CapitaLand Integrated to acquire remaining stake in CapitaSpring
BENGALURU | SYDNEY: Singapore 's CapitaLand Integrated Commercial Trust said on Tuesday that it would buy the remaining 55% stake in CapitaSpring from CapitaLand Development and Mitsubishi Estate on an agreed property value of S$1.05 billion ($816.55 million). CapitaLand Integrated estimates the total acquisition outlay for the office and retail components of the 51-storey integrated development in Singapore's prime central business district at about S$482.3 million. CapitaSpring has maintained nearly 100% committed occupancy as of June 30, 2025, underpinned by high-quality tenants from diverse trade sectors, CapitaLand Integrated CEO Tan Choon Siang said. "Our Singapore exposure will increase from approximately 94% to 95% of our portfolio property value, advancing our strategic goal to deepen our presence in this core market." CapitaLand Development will sell its 45% stake, while Mitsubishi Estate plans to divest its 10% interest. Both CapitaLand Integrated and CapitaLand Development are part of the broader CapitaLand Group, which Temasek Holdings backs. The acquisition will be funded through a private placement expected to raise around S$500 million, the company said in a statement. The offering will be priced between S$2.105 and S$2.142 per new unit. The acquisitions are expected to deliver a distribution per unit (DPU) accretion of 1.1% on pro forma basis, assuming CapitaLand Integrated had held and operated 100% of CapitaSpring from January to June of this year. Global demand for office space has grown steadily in the past few years after the pandemic, reinforced by Singapore-listed City Developments' sale of office complexes for S$834.2 million in June.
Straits Times
3 days ago
- Business
- Straits Times
CICT to remaining 55% of CapitaSpring, raise $500m from private placement to finance it
Sign up now: Get ST's newsletters delivered to your inbox The Grade A office tower in Raffles Place has nearly 100 per cent committed occupancy as at end-June. SINGAPORE - CapitaLand Integrated Commercial Trust (CICT) on Aug 5 announced the proposed acquisition of the 55 per cent of CapitaSpring it does not already own at an agreed property value of S$1.05 billion. Of this, 45 per cent is from CapitaLand Development (CLD) and 10 per cent is from Mitsubishi Estate. The agreed property value for the whole 51-storey office tower in Raffles Place is $1.9 billion. The total acquisition outlay is estimated $482.3 million. Tan Choon Siang, CEO of CICT's manager said: 'CapitaSpring has consistently performed well, maintaining nearly 100 per cent committed occupancy as at 30 June 2025, underpinned by good quality tenants from diverse trade sectors. We are confident in the office tower's long-term potential to capture future growth, supported by sustained demand for quality Grade A office spaces and limited supply in the core CBD. 'Our Singapore exposure will increase from approximately 94 per cent to 95 per cent of our portfolio property value, advancing our strategic goal to deepen our presence in this core market.' On a pro forma basis, the acquisition is expected to deliver a distribution per unit (DPU) accretion of 1.1 per cent, assuming CICT had held and operated 100 per cent of CapitaSpring's commercial component from Jan 1 to June 30, 2025. CICT intends to finance it (excluding the acquisition fee related to the acquisition of CLD's 45 per cent interest, which will be paid in CICT units) using proceeds raised through a private placement, which is expected to raise $500 million. Top stories Swipe. Select. Stay informed. World Israel to decide next steps in Gaza after ceasefire talks collapse Singapore 'I wish I can hear her sing again,' says boyfriend of Yishun fatal crash victim Asia What's it like to deal with brutal US tariffs? Ask Malaysia Singapore Singapore launches review of economic strategy to stay ahead of global shifts Singapore A look at the five committees reviewing Singapore's economic strategy Opinion Keeping it alive: How Chinese opera in Singapore is adapting to the age of TikTok Life Glamping in Mandai: Is a luxury stay at Colugo Camp worth the $550 price tag? The proposed placement of over 237.5 million new units will have a minimum offering price of $2.105 per unit. The issue price range between $2.105 and $2.142 represents a discount of between around 4.1 and 5.7 per cent to the volume weighted average price (VWAP) of $2.2334 per unit for trades of the units executed on Aug 4. The new units are expected to be listed on the Singapore Exchange on Aug 14. CICT's manager estimates that the quantum of DPU held as at the close of Aug 13 under the cumulative distribution to be at between 6.92 cents and 7.02 cents. It also announced on Aug 5 that CICT posted a 3.5 per cent year-on-year rise in its first half DPU to 5.62 cents, which will be paid on or around Sept 18. Distributable income for the six months ended June grew 12.4 per cent to $411.9 million, compared with $366.5 million in the year-ago period. This increase was attributed to the income contribution from ION Orchard, which was acquired on Oct 30, 2024, better performance from existing properties and lower interest expenses, partially offset by the divestment of 21 Collyer Quay CICT units were halted from trading before the market opened on Aug 5. They closed on Aug 4 at $2.24, up 2.3 per cent or five cents.
The Star
3 days ago
- Business
- The Star
Singapore's CapitaLand Integrated to acquire remaining stake in CapitaSpring
SINGAPORE's CapitaLand Integrated Commercial Trust said on Tuesday that it would buy the remaining 55% stake in CapitaSpring from CapitaLand Development and Mitsubishi Estate on an agreed property value of S$1.05 billion ($816.55 million). CapitaLand Integrated estimates the total acquisition outlay for the office and retail components of the 51-storey integrated development in Singapore's prime central business district at about S$482.3 million. CapitaSpring has maintained nearly 100% committed occupancy as of June 30, 2025, underpinned by high-quality tenants from diverse trade sectors, CapitaLand Integrated CEO Tan Choon Siang said. "Our Singapore exposure will increase from approximately 94% to 95% of our portfolio property value, advancing our strategic goal to deepen our presence in this core market." CapitaLand Development will sell its 45% stake, while Mitsubishi Estate plans to divest its 10% interest. Both CapitaLand Integrated and CapitaLand Development are part of the broader CapitaLand Group, which Temasek Holdings backs. The acquisition will be funded through a private placement expected to raise around S$500 million, the company said in a statement. The offering will be priced between S$2.105 and S$2.142 per new unit. The acquisitions are expected to deliver a distribution per unit (DPU) accretion of 1.1% on pro forma basis, assuming CapitaLand Integrated had held and operated 100% of CapitaSpring from January to June of this year. Global demand for office space has grown steadily in the past few years after the pandemic, reinforced by Singapore-listed City Developments' sale of office complexes for S$834.2 million in June. ($1 = 1.2859 Singapore dollars) (Reporting by Sneha Kumar in Bengaluru and Scott Murdoch in Sydney; Editing by Sherry Jacob-Phillips and Rashmi Aich)
Time Out
13-07-2025
- Entertainment
- Time Out
We tried the world's highest garden-to-table afternoon tea on the 51st storey of a Singapore skyscraper
Your afternoon tea sessions just got majorly elevated with a brand new garden-to-table experience at Kaarla, a sleek restaurant that's perched way up high on the 51st floor of 1-Arden. From a lemon aspen tart with thyme, and basque cheesecake with berry coulis, to an edamame hummus tart and more – every item served is made using edible plants from 1-Arden's 'food forest'. That goes for the complimentary tea as well, with choices like milky oolong with marigold, hojicha with mint and lemon myrtle, and jasmine tea with rose petals. But if you're more of a coffee person, opt for a latte, cappuccino, flat white or long black instead. Matcha lattes are also available with a $2 top-up. In line with the botanical theme, it's no coincidence that the food set-up also resembles a Japanese zen garden – complete with real florals, bamboo and moss balls arranged artfully atop a bed of white 'pebbles' (beans) alongside the pretty morsels. The freshly harvested herbs add a unique, refreshing balance to each item, and flavour-wise, we have zero complaints. However, with each item being so daintily bite-sized, portions are definitely smaller compared to other more substantial (but perhaps less well-crafted) high teas we've had. We left feeling slightly peckish still, having skipped lunch in preparation for this feast – perhaps some classic scones would be a good addition to satiate diners better. That said, the views from our window seat were unmatched – it's not every day that you get to gaze down upon the city from such a height. This garden-to-table afternoon tea at 1-Arden is a permanent offering, available only from Mondays to Fridays between 2.30pm to 4.30pm. A set for two is priced at $75 ($37.50 per person), while additional guests in odd-numbered groups can join at $38 each. 1-Arden is located within CapitaSpring at 88 Market Street, just a two-minute walk from Raffles Place MRT station. Find out more and make your reservation here.
Time Out
02-06-2025
- Entertainment
- Time Out
The viral Kichi Kichi omurice from Kyoto is coming to Singapore this July
Kyoto's famed Kichi Kichi omurice has probably managed to reach your feed in one way or another by now. The focal point of these videos is always Chef Motokichi Yukimura's eccentric antics, crazy hair, theatrical cooking style, and, of course – how he slices each omelette in one smooth motion to unravel a blanket of fluffy, runny goodness. View this post on Instagram A post shared by Monica | SEATTLE FOODIE ♡ (@ Come this July, the internet-viral chef is bringing his popular creation to Singapore. But no, he is not opening his own restaurant here. Instead, Chef Motokichi Yukimura will be teaming up with Tsukimi Hamburg to launch a collaborative menu, combining his omurice recipe with the former's hamburg steaks. There are two items on the special menu – the Kichi Kichi Hamburg Omurice ($16.80) with demiglace fried rice, edamame, and chicken, topped with omelette and a hamburg patty; and the Kichi Kichi Omurice ($12.80) which is the standard demiglace fried rice finished off with a spiral-shaped 'tornado' omelette. These dishes will be available across all three of Tsukimi Hamburg's outlets (CapitaSpring, Hougang Mall, Jurong Point) from July 10 onwards, and will be permanent additions to the restaurant's menu. For fans of Chef Motokichi Yukimura himself, you can also stand a chance to meet him for a cooking showcase on July 11 and 12 at Tsukimi Hamburg's Jurong Point outlet. Here's how: sign up as a &Rewards Member, and then spend a minimum of $20 at &Joy Japanese Food Street. The meet-and-greet is limited to 20 people per session, and more information can be found here.
