It trailed only behind tech and REITs as the sector with the best performance.
Listed real estate developers (excluding REITs) was the third best-performing sector in March, with a total return of 2.7% after registering total returns of 0.7% and 7.8% in February and January respectively, according to SGX.
The real estate developers sector saw strong investor interest in March, with net institutional inflows of $25.9m. It was a net buy sector for the second straight month, after chalking up net inflows of $32.1m in February, SGX data showed.
This follows after Information Technology’s 4.1% total return and the REIT sector’s 3.2% total return. March was also the third straight month of positive returns for the real estate (non-REITs) sector.
In the 2019 YTD, the five best-performing, largest capitalised real estate developers were: Hong Fok (+34.6%), OUE (+23.8%), CapitaLand (+18.6%), Yanlord Land (+17.2%), and UOL Group (+16.0%). The five averaged a total return of +22.0% in the YTD.
Do you know more about this story? Contact us anonymously through this link.