MCO gives REIT sector buying opportunities, says industry player | Malay Mail

📆 24/4/2563 8:46:00
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KUALA LUMPUR, April 23 — The movement control order (MCO) imposed to contain the spread of the Covid-19 outbreak is likely to present the real estate investment trust (REIT) sector with buying opportunities, says an industry player. Stephan Tew, non-executive director at Axis REIT Managers Bhd,...

Stephan Tew, non-executive director at Axis REIT Managers Bhd, said he believes the MCO does not hurt REITs as much as other property sectors. — Bernama pic

“There are a couple of REITs that are trading at 50 per cent of their net tangible assets. So, there are a lot of buying opportunities, but the owners sure have their plan for the company. Last year, the industrial REIT posted a strong growth amid demand mainly from international players from the e-commerce market, and is set to continue growing going forward.

In addition, he said, there is strong demand for central kitchens amid growing food delivery platforms.

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