"Its properties in Sydney, 8 Chifley Square, Pinnacle Office Park and Blue & William benefit from companies tightening on hybrid work arrangements," he adds.
UOB Kay Hian's Jonathan Koh has kept his "buy" call on Keppel REIT, with a slightly reduced target price of $1.06, from $1.08 previously, with signs of recovery for its Sydney portfolio even as the Singapore assets remain stable.
"KREIT is well-positioned as it has backfilled vacant office spaces ahead of competition from new supply from IOI Central Boulevard Towers," states Koh in his Oct 9 note.
