With prime assets in and around Singapore’s city centre and more patients and private capital, developers are drawn to opportunities in the listed space to repurpose these assets for alternative uses.
Recent privatisations in the listed tourism-related space underscore the intrinsic value embedded within listed property and hospitality S-REITs, especially for those with prime assets located along Orchard Road. The recent privatisations include Amara Holdings (SGX:A34
) and Paragon REIT.
Currently, hospitality S-REITs and selected developers are trading at discounts of between 20% and 50% to their book values, emphasising the disconnect between public and private market valuations.
