SINGAPORE (Oct 7): CGS-CIMB Research is keeping its “hold” recommendation on Starhill Global REIT (SG REIT) with a lower target price of 75 cents, down from 79 cents previously, on expectations of muted near-term growth due to the weak economy.

But lead analyst Eing Kar Mei believes a couple of potential investments in the pipeline could trigger and drive growth in the longer term.

SG REIT is said to be planning to unlock an unutilised gross floor area of 100,000 sq ft between Ngee Ann City and Wisma Atria, which could coincide with the upcoming Orchard MRT station on the Thomson-East Coast Line in 2021.

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