Singapore REITs Poised for Growth: A Comprehensive Analysis

OCBC Investment Research
7 April 2025

Sector Updates

CapitaLand Ascendas REIT Secures Revolving Credit Facility

CapitaLand Ascendas REIT (CLAR) has secured a USD198m committed revolving credit facility maturing in 2030.

Parkway Life REIT Disposes of Units

The manager of Parkway Life REIT (PLIFE) has disposed of 147,300 units in PLIFE by way of an off-market transfer of the units to eligible employees pursuant to its Long-Term Incentive Plan.

Stoneweg European REIT Proposes Conversion to Stapled Trust

Stoneweg European REIT (SERT) has announced its proposed conversion into a stapled trust, comprising SERT and Stoneweg European Business Trust. The proposed stapling is meant to provide SERT with a future-proofed corporate structure with optimal tax efficiency, allowing SERT to embark on incremental or moderate development activities, or invest in assets which support or are ancillary to its real estate.

ESR-REIT to Redeem Perpetual Securities

ESR-REIT (ESR) has elected to redeem SGD75.25m in principal amount of perpetual securities with a distribution rate of 6.632% on 3 May 2025.

Digital Core REIT Prices JPY10b Notes

Digital Core REIT (DCREIT) has priced JPY10b (USD67m) of 1.97% fixed rate notes due 2030 under its USD750m Euro Medium Term Note Program. The proceeds will be used to fund DCREIT’s recent investment in a data centre in Osaka, Japan, as well as general corporate purposes.

Market Performance

The FTSE ST REIT Index was up 0.5% week-on-week, while the STI was down 3.7% over the same period.
The 12-month forward price-to-book (P/B) ratio of the iEdge S-REIT Index stood at 0.85x, below the 8-year average of 0.98x.
The 12-month forward distribution yield of the iEdge S-REIT Index was 6.4%, above the 8-year average of 6.1%.

Peer Comparison

Sector Performance

Weekly Top 5 Performers

Weekly Bottom 5 Performers

Weekly Sector Performance

Coverage Universe

Geographical Breakdown