AUSTRALIA’S CROMWELL TO FLOAT €900M REIT IN S’PORE

SYDNEY: Australia’s Cromwell Property Group will tap Asian investors in a bid to raise as much as €900 million (RM4.54 billion) through a real estate investment trust in Singapore, according to a prospectus lodged Friday. The trust, called CEREIT, will hold 81 office, industrial and retail properties across Europe, which Cromwell values at about €1.8 billion. – Reuters