JCube Residence offers potential homeowners a foothold in the heart of Singapore’s up and coming Jurong Lake District (JLD). The new residence is located near the Jurong East MRT Interchange, Westgate and IMM Building and will be connected via the J-Walk, an elevated pedestrian network. Additionally, it will be close to the upcoming Jurong East Integrated Transport Hub, which includes a bus interchange, public library, community club and sports centre. In the second half of 2023, JCube Residence is expected to be open for sale, with pricing details and unit sizes yet to be revealed.

IREIT Global, a Europe-focused REIT, has announced a call option agreement to purchase a portfolio of 17 French retail properties. The properties have a total gross lettable area of 664,500 sq ft and an overall occupancy rate of 100%. Their independent valuations placed the portfolio at EUR78.1 million, and IREIT will be acquiring it for an aggregate purchase consideration of EUR76.8 million – a 1.7% discount.

The portfolio is fully leased to B&M France SAS, a subidiary of B&M European Value Retail, and offers an attractive net property income yield of 7.9%. The weighted average lease expiry by gross rental income stands at 8.6 years as of March 31, 2023.

Commenting on the acquisition, Louis d’Estienne d’Orves, CEO of the IREIT Global Group and the manager of the REIT, said: “In this macroeconomic environment marked by high inflation, the proposed acquisition is in line with our strategy of strengthening our exposure to index-linked assets in established European markets, supported by a strong blue-chip tenant”.

Once the acquisition process is complete, IREIT’s portfolio will comprise of 44 retail properties.