Singapore's Retail REITs Leveraging Shifts in Consumer Spending, DBS Says -- Market Talk

Dow Jones2023-12-08

0733 GMT - Singapore's retail REITs are leveraging shifts in consumer spending, with suburban malls' tenant sales over 10% above prepandemic levels, spurring retailers to expand their presence in suburban areas, DBS Group Research analysts say in a research report. Suburban malls are enjoying increased weekday footfall from the work-from-home trend and provide convenient and expansive offerings in essential trades and services, the analysts say. Also, normalization of tourist spending in Singapore will be a trend to watch in 2024 due to the strong lineup of concerts and other events, the analysts add. DBS's top picks are buy-rated Frasers Centrepoint Trust and buy-rated Lendlease Global Commercial REIT. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

December 08, 2023 02:33 ET (07:33 GMT)

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Also, normalization of tourist spending in Singapore will be a trend to watch in 2024 due to the strong lineup of concerts and other events, the analysts add. DBS's top picks are buy-rated Frasers Centrepoint Trust and buy-rated Lendlease Global Commercial REIT. 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