The real estate subsidiary of Singapore-based investment firm Straits Trading Company, Straits Real Estate, has purchased 3.2 million units of office and retail real estate investment trust Suntec REIT (SGX:T82U).

The units were purchased via a market transaction on 3 September for a total price of SGD5,892,992. This translates to about SGD1.84 paid per unit.

According to information provided by the company’s website. Straits Real Estate Private Limited is a real estate investment vehicle that is 89.5% owned by Straits Trading Company.

Units of Suntec REIT are currently listed on the Singapore Exchange at SGD1.815.

Suntec REIT property Suntec City, Singapore.
Suntec REIT property Suntec City, Singapore.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.