Paragon REIT - DBS Research 2023-01-26: Hopping Off To A Great Start; Upgrade To BUY

• We upgrade Paragon REIT (SGX:SK6U) to BUY as a key proxy to Orchard Road recovery. We increased our rental reversions assumptions for Paragon mall to 5-10% for forward years FY23-25, with NPI margin moderating to ~77% for FY23 / FY24.
• - Read this at SGinvestors.io -

Paragon mall a prime beneficiary of return of Chinese travellers:

• When it comes to tourist retail receipts, Orchard malls and central malls located near key tourist destinations are amongst magnets for Chinese retail receipts. Tourist-destination malls for the likes of Paragon, Raffles City Shopping Centre, and VivoCity generally enjoy ~20-25% of tenant sales from tourist receipts.
• - Read this at SGinvestors.io -
• Singapore receives an estimated ~500k medical tourists every year, with Indonesia, Malaysia, and China being top source markets.

Paragon to benefit from tourist arrivals and medical tourism.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-02-12 Paragon REIT - The End Game ~ Re-privatisation Offer From Cuscaden Peak.

Previous report by DBS:
2024-08-07 Paragon REIT - Bargaining Chip In Hand.

Price targets by other brokers at Paragon REIT Target Prices.

Listing of research reports at Paragon REIT Analyst Reports.

Relevant links:
Paragon REIT Share Price History,
Paragon REIT Announcements,
Paragon REIT Dividend Payout Dates & Corporate Actions,
Paragon REIT News