Business Services Industry

Cash floods into property trusts.

Australasian Business Intelligence, November, 2002

Nov 12, 2002 (The West Australian - ABIX via COMTEX)

In Australia, $A2.7bn of the $A12.4bn raised for the equity market in 2002 is in listed property trusts (LPTs). Big equity raisings have been conducted by Westfield's trusts, Investa, Centro Properties, Macquarie Goodman, Macquarie ProLogis and AMP. The latest raisings include Macquarie Goodman Industrial's Singapore Real Estate Investment Trust (listing on the Singapore Stock Exchange), and the Ascendas Real Estate Investment Trust (underwritten by Development Bank of Singapore, JP Morgan and Salomon Smith Barney). UBS Warburg's Mark Steinert forecasts that institutions' portfolios will be made up of around 10 property in the next few years. Property Investment Research says uncertain investment markets are...

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