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Increased confidence on S-REITs as Singapore's economy reopens

Samantha Chiew
Samantha Chiew7/16/2020 12:53 PM GMT+08  • 3 min read
Increased confidence on S-REITs as Singapore's economy reopens
Renewed confidence on S-REITs as Singapore economy reopens
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SINGAPORE (July 16): Singapore is well into Phase 2 of reopening the economy and social distancing restrictions are gradually easing. With that, UOB Kay Hian is keeping its “overweight” rating on the Singapore REITs (S-REITs) sector.

Compared to the previous week, UOBKH S-REIT Index retraced marginally by 0.6% to 252.1. Some of the week’s top performers include ARA LOGOS Trust, gaining 6.1% with the appointment of new CEO Karen Lee; and Keppel DC REIT, gaining 3.6% as data centres are beneficiaries of Covid-19 pandemic.

This is followed by hospitality REITs Frasers Hospitality Trust (FHT), CDL Hospitality Trust (CDREIT) and Ascott Hospitality Trust (ART), which increased 2.1%, 1.9% and 1%, respectively.

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