They’re places that encapsulate Singapore: Gardens by the Bay, with its gigantic artificial trees and botanical conservatories dripping with orchids; Lau Pa Sat, the colonial-era food hall beckoning with chili crab and chicken rice; Jewel Changi Airport, the futuristic shopping and entertainment complex straight out of “Crazy Rich Asians.”
Caisse de depot et placement du Quebec says it will look for an array of solutions for its 25 Canadian malls after their problems contributed to a 2.7-per-cent decline in the value of its real estate portfolio in 2019.
The federal housing agency's quarterly assessment leaves Victoria as the only market with an overall high degree of vulnerability.
The trust says the profit amounted to 48 cents per diluted unit for the quarter ended Dec. 31, down from 49 cents per diluted unit in the fourth quarter of 2018 when it had fewer units outstanding.
Caisse de Depot et Placement du Quebec returned 10.4% last year as stocks and fixed income shielded Canada’s second-largest pension fund manager from a poor performance in real estate.
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