- For the 20 S-REITs under our coverage, three beat our expectations (CapitaLand Integrated Commercial Trust, Frasers Logistics & Commercial Trust and Keppel DC REIT), while two underperformed (Lendlease REIT and Mapletree Logistics Trust).
- - Read this at SGinvestors.io -
- Frasers Logistics & Commercial Trust locked in strong positive rental reversion in Australia.
- - Read this at SGinvestors.io -
Retail REITs: Resilient recovery from downtown malls.
- Downtown malls achieved double-digit positive rental reversion, such as Suntec City Mall (2Q24: +20.2%), Mapletree Pan Asia Commercial Trust (SGX:N2IU)'s VivoCity (1QFY25: +19.9%) and Lendlease REIT (SGX:JYEU)'s 313@Somerset (FY24: +20%) due to a recovery in tourism and back-to-office momentum. Confidence among retailers remains buoyant despite higher outbound travel exacerbated by the strong Singapore dollar in 2Q24.
- See reports:
- Read more at SGinvestors.io.
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 @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-08-22
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