Starhill Global REIT’s “mid-high single-digit rent reversion for Singapore retail and office assets are expected to continue in FY2025”, says Natarajan. “Tenant sales and shopper traffic at Wisma Atria rose 7% and 13% — better than peers — indicating an uplift from asset enhancements and the new [Thomson-East Coast Line] MRT opening.”
Starhill Global REIT is on “firm footing” following the July 29 release of its results for FY2024 ended June 30, says RHB Bank Singapore. The retail- and office-focused REIT has navigated the high interest rate environment well, with steady operational improvements and active debt management, says RHB analyst Vijay Natarajan.
In an Aug 26 note, Natarajan is staying “buy” with a lower target price of 57 cents from 58 cents previously. This target price includes a 2% ESG premium based on RHB’s proprietary methodology.
