Underpinning the sanguine outlook is an anticipated acceleration in economic recovery in the 2H2021, driven by vaccinations. With Singapore on track to meet its target to vaccinate two-thirs of the population by August 9, Natarajan anticipates further easing of Covid-19 measures that will be positive for REITs.
RHB Group Research analyst Vijay Natarajan is positive on Singapore REITs (S-REITs), despite the sector underperforming the STI so far this year.
“S-REITs are up 3% YTD vs the STI’s 10%, but we expect the recovery pace to pick up in 2H2021 – on a stronger economic rebound and positive shift in Singapore’s policy stance,” he affirms in a July 16 report.
