The employment levels in the technology sector in nine cities – Atlanta, Dallas, Denver, Miami, Orlando, San Diego, Kansas City, St Louis and Salt Lake City – grew at CAGR of 5% between 2015 to 2019, according to a study by Brookings Institute.
UOB Kay Hian analyst Jonathan Koh has kept a “buy” rating on Keppel Pacific Oak US REIT (KORE) with a target price of US$1.07 ($1.47).
To the analyst, KORE has benefitted from the dispersion of jobs in the technology sector to outside of Silicon Valley, particularly with these regional technology hubs growing at a rapid pace. Some major technology companies like Hewlett Packard, Oracle, Palantir and Tesla have moved their headquarters from California to Texas as well.
