In a recent property tour of four properties, The Edge Singapore saw first-hand how AA REIT is putting this strategy into action. One way is to plug into Singapore’s Future Economy, the city state’s long-term plan to stay competitive.
SINGAPORE (May 31): George Wang, chairman of AIMS APAC Real Estate Investment Trust’s (AA REIT) manager and AIMS and now the REIT’s largest unitholder, is aware of the negative aspect of REITs acquiring assets to raise assets under management just to increase fee income for its sponsors.
However, in a meeting with The Edge Singapore last year, Wang said his REIT could not keep buying properties and had articulated that the best way to raise the REIT’s valuation and cash flow was through redevelopment.
