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Underpinned by a global hunt for yield, Singapore's real estate investment trusts are having a bumper year in deal-making as well as fundraising. The mantra that bigger is better will continue to drive capital market activity in the sector, analysts say.
Singapore-listed Reits have forked out US$16.9 billion to purchase assets this year, already triple the previous peak reached in 2014. The sector has also raised a record amount in follow-on share sales, riding an 18 per cent gain in the FTSE Singapore REIT Index, which is more than four times the rise in the broad benchmark in the city-state.
The mergers and acquisitions have created some of the largest Reits in the region. The allure of being big: the entity would find it easier to get a place in global benchmarks and portfolios, raise funds for expansion and tackle competition. For those reasons, expanded companies are better investments for stock buyers.
"Reits are going to be a go-to sector for the next year as consolidation will add another reason to buy alongside yields," said Jin Rui Oh, a Singapore-based director at United First Partners. The enlarged entities would get better market value, analyst coverage and potential index inclusion, he added.
Real estate related news stories from Singapore
- Iskandar still having hangover from residential market overhang
- Keppel Reit open to more development exposure
- 800 Super opens S$130m Tuas plant, announces new business lines
- Strata-titled retail unit sales crashed 55.3% to $64.3m in Q3
- Chart of the Day: Foreigners preferred pricier CCR homes in Q3
Asian property news round up
- Hong Kong property faces a trust deficit
- REIC upbeat on impact of latest property tax perks
- Thai government introduces property stimulus package
- MoC releases first quarterly real estate market report
- The Maris by UEM Sunrise records take up rate of 66%
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Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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