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Office real estate investment trusts (REITs) in Singapore have posted an average total return of 9.6 percent and a median of 10.4 percent so far this year, according to a report from the Singapore Stock Exchange (SGX).
In comparison, the global average and median stands at 10.2 percent and 10.5 percent respectively.
At the same time, Singapore office REITs have a median indicative dividend yield of 6.1 percent, surpassing the worldwide median of 4.3 percent. The former’s average debt-to-asset ratio of 35.3 percent was also lower than the global average of 41.3 percent and median of 43.9 percent.
Notably, the worldwide figures were derived from “100 primary-listed Global Industry Classification Standard (GICS) designated Office REITs listed across 22 countries, with a total market capitalisation of S$220 billion,” said the report.
Meanwhile, Singapore’s data came from six securities that own office towers and categorised as office REITs under the GICS.
With a combined stock market value of S$11.0 billion, these are the recently listed IREIT Global, Keppel REIT, OUE Commercial REIT, CapitaCommercial Trust, Frasers Commercial Trust and Viva Industrial Trust.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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