SINGAPORE (July 9): Ascendas REIT (A-REIT) remains one of the most defensive industrial REITs due to its diverse assets, and predominant exposure to the business parks sector, says RHB analyst Vijay Natarajan in a Thursday report.

The business parks sector is expected to stay resilient, he says.

In light of the Covid-19 outbreak, REITs are expected to provide mandatory one-month rent rebates to qualifying SME tenants under the Covid-19 bill. However, as less than 10% of the rental income are accounted for by industrial SMEs, Natarajan feels the impact of the rent rebate is likely to be “minimal”.

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