No let up on sight for Singapore REITs as headwinds persist

They’re bugged by weak tourist arrivals and corporate sentiment.

Little hope is left for a comeback for REITs in the near future even after the positive boost brought about by the SEA Games last June.

Analysts from OCBC are unexpectant of recovery prospects for the hospitality sector in the second half as corporates continue to tighten their purses over concerns on the global economy.

“Following the conclusion of the 2QCY15 results season, we note that out of the 23 S-REITs under our coverage, all four hospitality REITs (CDL Hospitality Trusts, Ascott Residence Trust, Far East Hospitality Trust and OUE Hospitality Trust) reported earnings which fell short of our expectations,” OCBC said.

“Some of the better performers were Suntec REIT (DPU +10.3% YoY due to fullquarter contribution from Suntec City mall phase 2 AEI), and overseas retail-focused REITs such as Fortune REIT (DPU +11.9% YoY) and Mapletree Greater China Commercial Trust (DPU +8.7% YoY),” OCBC added.

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