Ascendas REIT (A-REIT) continues to be Maybank’s top “buy” pick within the sector with a price target of $2.90, having reported a 1.7% increase in rental reversions on the strength of its business parks and integrated development.
SINGAPORE (Aug 3): Maybank Kim Eng Research is remaining “positive” on the Singapore REIT (S-REIT) scene, noting stronger occupancies across the industrial subsectors even as rental reversions, except for business parks, remained weak.
In a Thursday report, analyst Chua Su Tye has identified business parks as the research hosue’s preferred subsector as he believes it has better visibility from limited near-term supply. According to him, business parks continue to be the bright spot within the subsectors, with rents up 2% y-o-y and vacancy improving to 14.3%.
