The Week In Numbers: REITs Set To Tap The Market

Economists think that the Singapore economy might not grow as quickly as they first forecast. But they still believe the Garden City could grow at a rate of 1.8% this year. They have pencilled a growth rate of 1.8% for next year too, which is down from an earlier forecast of 2.1%.

Yangon might not be the capital of Myanmar anymore, but Keppel Land is confident over the long-term potential of the city. The company, which is part of Keppel Corporation (SGX: BN4), has signed a joint-venture agreement with Burmese conglomerate Shwe Taung Group to develop premium-serviced residences and offices in the next phase of Junction City.

Analysts are speculating that more Real Estate Investment Trust (REITs) could try to raise money from the market. The run up in the share price of Singapore REITs has provided a potentially lucrative source of additional funds. Some of the REITs that have been mooted include SPH REIT (SGX: SK6U) and Fraser Centrepoint Trust (SGX: J69U).

If you can’t beat them then join them. Hotel owner, City Development (SGX: C09), said it will invest S$20 million for a 20% stake in online apartment rental platform, mamahome. The hospitality disruptor reportedly has 100,000 apartment listings spanning 20 cities in major Chinese cities that include Beijing, Shanghai and Guangzhou.

And finally, a Chinese-made phone could have set the world record for the highest smartphone livestreaming. The phone, which was attached to a balloon, was expected to climb to 30,000 metres. But the balloon burst at a height of 18,421 feet.

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