This is in contrast - some may say sharp contrast to the FTSE RE Index which includes the developers. The leading developers such as City Developments, Hongkong Land and UOL Group had all started rallying in 2025. Smaller quality names such as Bukit Sembawang Estates (a subject of a Right Timing column in June 2025) has rallied and continues to do so. Have a look at its chart. Elsewhere, Wing Tai Holdings has broken out as has Guocoland.
The FTSE REIT Index’s technical chart pattern promises much but the index has failed to break out. Prices continue to hover around the top of the base formation at 720 - give or take. On Jan 16, the FTSE REIT Index closed at 721.
