Wong says softness in the sector was largely broad-based with declines recorded for hospitality (–4% y-o-y), retail (–1.9% y-o-y) and office (–1.3% y-o-y) sub-sectors.
SINGAPORE (March 7): OCBC Investment Research is maintaining its “overweight” on local REITs identifying bright spots in certain sub-sectors as well as the potential for bargain hunting even as the sector begins to pullback.
In a Monday report, lead analyst Andy Wong Teck Ching says the sector is undergoing a challenging environment with distribution per unit (DPU) growth for 4QCY16 registering a 2% fall from a year ago.
