UOB Kay Hian has initiated a “buy” rating on Lendlease Global Commercial REIT (LREIT) with a target price of 97 cents, as it believes the REIT could benefit from [email protected]’s unique positioning and income stability from Sky Complex in Italy.

The way analysts Jonathan Koh and Loke Peihao see it, the REIT’s largest asset, [email protected] is uniquely positioned due to its youth orientation and prime location on top of Somerset MRT station, one of the busiest stations in Singapore.

The mall will also benefit from the government’s plan to rejuvenate Orchard Road, including the redevelopment of the Grange Road car park to a dedicated event space.

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