RHB Group Research analyst Vijay Natarajan is positive on Singapore REITs (S-REITs), despite the sector underperforming the STI so far this year.

“S-REITs are up 3% YTD vs the STI’s 10%, but we expect the recovery pace to pick up in 2H2021 – on a stronger economic rebound and positive shift in Singapore’s policy stance,” he affirms in a July 16 report.

Underpinning the sanguine outlook is an anticipated acceleration in economic recovery in the 2H2021, driven by vaccinations. With Singapore on track to meet its target to vaccinate two-thirs of the population by August 9, Natarajan anticipates further easing of Covid-19 measures that will be positive for REITs.

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