0614 GMT - CapitaLand Ascendas REIT's sharpened focus on asset redevelopment looks positive, RHB Research analyst Vijay Natarajan says, citing the REIT's comments at analysts' briefing. The redevelopment of its LogisHub@Clementi property in Singapore could transform the asset from a cargo lift warehouse to a modern seven-storey asset having cold storage facility, with an estimated high single digit return on investment, Natarajan says in a research report. Management also highlighted its Telepark property's attractive location next to Tampines MRT station and the underlying commercial land lease offers good redevelopment potential for the asset. RHB maintains the REIT's buy rating and target price of S$3.20. Units are 0.4% lower at S$2.63. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 10, 2025 01:14 ET (06:14 GMT)
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