Singapore REITs Monthly - Phillip Securities Research 2026-05-25: Global Tensions Are Contained, With A Limited Impact So Far

• The S-REITs Index rebounded 3.2% in April, after a 6.9% decline in March, as de-escalation in the Middle East supported a rotation into yield instruments. KORE US REIT (SGX:CMOU) was the best performer, rising 13%, driven by a strong 1Q26 operational update. First REIT (SGX:AW9U) was the worst performer, falling 5.9% amid the divestment of its Indonesia portfolio. Retail was the best-performing sub-sector for the month, up 6.4%, while hospitality was the weakest, up 1.3%, as geopolitical tensions in the Middle East weighed on sentiment.

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Sector round-up

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• Looking ahead, the DPU outlook is also supported by improving capital management discipline and a more stable funding environment, which may gradually support incremental acquisition activity among well-capitalised REITs. However, sector dynamics remain uneven, with retail, industrial, and office REITs demonstrating greater resilience, while hospitality REITs remain more sensitive to macroeconomic volatility and demand uncertainty.

Retail REITs

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Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

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