There is a new REIT in town

The eligibility-to-list letter has been issued.

ARA Asset Management Limited announced that Singapore Exchange Securities Trading Limited has on 14 September 2012 issued its eligibility-to-list letter in connection with the proposed initial public offering and listing of Dynasty Real Estate Investment Trust on the SGXST.

Dynasty REIT will be established as a real estate investment trust with ARA as its sponsor. The proposed authorisation of Dynasty REIT is currently being reviewed by the Monetary Authority of Singapore and is subject to its approval.

ARA will hold 100% of the total issued share capital of ARA Trust Management (Dynasty) Pte. Ltd., the intended manager of Dynasty REIT.

Dynasty REIT will be a Singapore real estate investment trust established with the investment strategy of principally investing, directly or indirectly, in income-producing real estate located in the PRC which is used primarily for commercial purposes, as well as real estate-related assets.