0441 GMT - Singapore retail REITs could gain from increased local consumption after the government announced more support measures such as cash handouts and vouchers in its budget presentation, says RHB analyst Shekhar Jaiswal in a note. The incentives are "broadly positive" for local consumption, and suburban malls stand to benefit, he says. The analyst expects Frasers Centrepoint Trust to be the key beneficiary, while CapitaLand Integrated Commercial Trust, which has a sizable suburban retail portfolio, will likely witness positive effects on overall tenant sales. RHB has a neutral rating on retail REITs, as it expects retail landlords to remain focused on maintaining high occupancy rates, among other factors. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
February 19, 2024 23:41 ET (04:41 GMT)
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