CROMWELL European Real Estate Investment Trust (Cereit) IPO in SGX

Another REITs with properties in Europe – CROMWELL European Real Estate Investment Trust (Cereit) will be listed in Singapore Stock Exchange subject to all conditions to be met.

Let see what type of properties will be included in this Cereit. Could it be another office REIT, Industrial REIT, Student Accommodation, Healthcare, Retail Malls or Hybrid? Very excited and can’t wait to see the Cereit IPO prospectus.

iREIT Global is another European REITs which focus on office properties.


CROMWELL European Real Estate Investment Trust (Cereit), a Singapore Reit with portfolio of assets in Europe, has received an Eligibility-to-List (ETL) nod from the Singapore Exchange for its estimated one billion euros (S$1.6 billion) initial public offering (IPO).

The IPO could take place at the end of September, if all conditions are met, said the Reit’s sponsor Cromwell Property Group in a statement on Thursday.

The ETL was issued on Wednesday to the company while Cereit’s manager – Cromwell EREIT Management – received a Capital Markets Services Licence from the Monetary Authority of Singapore on Aug 17.

“The IPO reflects Cromwell’s stated strategy of diversifying capital sources and achieving recurring revenues from its funds management business,” said Cromwell.

Assuming a successful IPO, and subject to final allocations, Cromwell said that it plans to hold a sponsor stake of some 10 per cent in Cereit, which has been fully funded.

Cereit’s IPO will be subject to market conditions, obtaining relevant regulatory and other approvals and the execution of definitive agreements by relevant parties.

Cromwell European Reit gets Singapore Exchange nod for S$1.6b IPO

See the sponsor Cromwell corporate’s info here.

Market Insight Seminar by InvestingNote

I was invited InvestingNote to give a market update on on Singapore REITs to a group of retail investors yesterday at CIMB Securities.

InvestingNote is The #1 Social Media Platform Used By Stock Investors In Singapore. You can follow my blog post update there. My ID is marubozu in InvestingNote community.


Key Summary

Global Economy is recovering. Global PMI is in expansion mode, from recovery to cruising speed. The stock market is still supported by strong economy fundamental. In my personal view, a market correction is more likely than a market crash (due to the 10 years market cycle).

The forecasted US interest rate will stay at 1.25% at the end of 2017.


However, FTSE ST REIT index has already priced in 3 hikes to 1.5% by end of this year. Thus, there should be no impact if the US Fed raises the interest rate to 1.5%.


FTSE ST REIT Index is still trading in a bullish uptrend channel but facing resistance at 820.


Overall simple average yield for Singapore REIT is 6.48% and still very attractive compare to other income assets in Singapore.


Other slides can be found at below links:

Singapore REITs Bubble Charts

Singapore REIT Price/NAV Range Chart

Singapore REITs Table


Summary for Singapore REITs 2H2017 Market Outlook


Check below on other events:

REITs Investing Course

REITs Portfolio Advisory




Singapore REITs Bubble Charts Aug 2017

Bubble charts derived from August 7, 2017 Singapore REITs Fundamental Comparison Table. No significant movement compared to last Bubble Charts. The yield spread remains wide between big cap and small cap REITs. This means that value pick is at the small cap space if you know how to spot them.  Please take not that we have to be very cautious in the selection as some of those REITs have declining DPU for past few quarters. You may want to check out how to spot those problematic REITs here.


Disclaimer: The analysis is for Author own use and NOT to be used as Buy / Sell recommendation. Get a proper training on “How to use this Singapore REIT Bubble Charts?” here.

Original Post from


These Bubble Charts are used to show the “relative” position compare to other Singapore REITs.

Two visual bubble charts to pick and avoid:

  1. Undervalue Singapore REITs with High Distribution Yield** (Value Pick)
  2. Overvalue Singapore REITs with High Gearing Ratio (Risk Avoidance)

** Distribution Yield are lagging.


Compared to previous Singapore REIT Bubble Charts here.


  • If you prefer to DIY your REITs Portfolio by selecting the right REITs for long term investing, you may consider the practical hands on REITs Investing Course.
  • If you do not have time to do all the analysis and monitor the stock market, there is a solution for you … REITs Portfolio Advisory. I will help you to build a Diversified REITs portfolio for you. I will do all the work by selecting fundamental strong REIT, time the entry, monitor the quarterly earning performance, sell the weak REITs, etc.

Also see other courses and seminars below.