6 Singapore REITs defying market odds and continuing to boost distributions!

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These 6 SG REITs managed to show improvement in their distributions despite challenges in foreign exchange rates and high borrowing costs

SINGAPORE: Singapore’s Real Estate Investment Trusts face tough times due to foreign exchange rates and high borrowing costs as benchmark interest rates remain at a 20-year peak.

In the first half of 2024 , CLINT reported a strong performance, with total property income up by 23% year-on-year to S$136 million and net property income up by 21% YoY to S$104 million. This growth came from higher income from existing and new properties.CapitaLand Integrated Commercial Trust , Singapore’s largest and first-listed REIT, has a well-diversified portfolio that includes retail and office properties.

Distributable income to Stapled Securityholders grew by 2.7% YoY to S$39.4 million, supported by a 1% rise in net property income. Other gains, including S$2.2 million for covering rising interest costs and S$4.0 million from selling Central Square, contributed to this growth.IREIT Global, Singapore’s first REIT focused on European assets, manages a diverse portfolio across retail, office, and industrial properties.

In the first quarter of fiscal 2025, MIT’s gross revenue and net property income grew by 2.7% and 1.3% YoY, reaching S$175.3 million and S$132.5 million, respectively.

 

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