Added 11,000 shares of Lendlease at $0.65 on 10 Jul.
In total, I own 86,600 Lendlease shares (Including the DRP of 1600 shares in 30 Mar)
Reason for buying:
1) Dividend Yield 7.5%
Semi annual payout. Next XD will be in Aug 2023
2) PB 0.83
3) Acquire 10% stake in Parkway Parade
Although I would prefer they acquire Paya Lebar Quarter (PLQ) instead of Parkway Parade. Nevertheless, it is a good start to have 1 new asset in the portfolio as long as it is DPU accretion. With direct linkway to upcoming Marine Parade MRT station (TEL) next year, this will drive more shopper traffic to Parkway Parade.
4) Upcoming Grange Road carpark (behind 313 Somerset)
There is not much update on this, but it should be completed in 2025 (Link)
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