Singapore REITs - UOB Kay Hian 2024-06-25: Hollowing-Out Of Business Parks Is Location Specific

Singapore REITs - Hollowing-Out Of Business Parks Is Location Specific

Singapore REITs - UOB Kay Hian Research | SGinvestors.ioMapletree Industrial Trust (SGX:ME8U) CAPITALAND ASCENDAS REIT (SGX:A17U) AIMS APAC REIT (SGX:O5RU) AIMS APAC REIT (SGX:O5RU)
  • Changi Business Park (CBP) has sub-par occupancy of 70% as companies in the financial services and technology sectors downsized and offshored IT to India. International Business Park (IBP) has low occupancy of 61% due to poor transportation connectivity and a lack of amenities.

WFH cast a dark shadow over business parks.

  • - Read this at -
  • On a nationwide basis, occupancy for business parks has languished by 8.0ppt to 79.1% over the past three years.

Offshoring IT to India.

  • Companies in the financial services and technology sectors have increased outsourcing and offshoring in India.
    • - Read this at -
    • Standard Chartered Bank is moving 16,000 employees in Global Business Services to its new integrated campus in Chennai, India during 2023-25.
    • UBS has recently increased senior leadership positions to make India a core technology hub. It has business solution centres in Pune, Hyderabad and Mumbai.

Singapore tightened criteria for employment passes.

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Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @

Jonathan KOH CFA UOB Kay Hian Research | 2024-06-25

Read More Analysis On Singapore REITs (S-REITs):
Analyst Reports on Singapore REIT Sector

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