SINGAPORE (Jan 24): Analysts believe Suntec REIT could see better days ahead with retail continuing to improve and office rents expected to be on a multi-year upturn.
“Since early 2018, more sell-side analysts have joined us in being bullish on Suntec,” DBS Group Research lead analyst Mervin Song says in a report on Thursday.
“As there is mounting evidence of a sustained turnaround at Suntec City Mall, spot office rents at an upward trajectory and underlying DPU to improve by 3-4% per annum between 2018 and 2021, we believe more investors and other sell-side analysts will be convinced that Suntec is undervalued,” he adds.
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