Far East Hospitality Trust holdd a 30% stake in this joint-venture with Far East Organization in Sentosa. (Photo: Far East Hospitality Trust)Far East Hospitality Trust holds a 30% stake in this joint-venture with Far East Organization in Sentosa. (Photo: Far East Hospitality Trust)

Singapore-based property investment company, Golden Development, has acquired 600,000 units of Far East Hospitality Trust as prices of the security hover just above 52-week lows.

Each stapled security comprises of one unit in Far East Hospitality REIT, and a unit in Far East Hospitality Business Trust.

Golden Development is linked to the estate of Ng Teng Fong, the late Singaporean property tycoon which has a significant investments in Hong Kong.

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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.