REITS recovery to push through despite Omicron threat: UOB

But delays are to be expected.

Singapore's REITS will continue to recover but may encounter delays, according to a report by UOB KayHian.

UOB KayHian’s Jonathan Koh, CFA, said Singapore’s open borders and high vaccination rates will help in the recovery.

Currently, the Singapore government has vaccinated travel lanes (VTL) agreements with 24 countries. This, in turn, accounted for 56% of visitor arrivals in 2019. With a scaled-down capacity starting 21 January 2022, VTLS by air and land remain quarantine-free. On top of this, the Causeway, or the border between Singapore and Malaysia, continues to remain open.

A higher vaccination rate was also cited as another factor going forward. As of 3 January, 87% of the total population have completed their full regimen, while 42% have received their booster shots.

Overall, Koh expects the reopening of borders, as well as an extension of capacity for existing VTLs and the introduction of new agreements, to resume in the second half (H2) of 2022. This pushes the recovery of the hospitality industry to H2 2022, as well.

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