Macquarie bearish on Singapore, other Asian Reits
China's slowdown has had a flow-on effect in S'pore, HK, Japan and Australia, says bank's asset management unit
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THE asset management arm of Macquarie Bank has been "underweight" on Asian real estate investment trusts (Reits), and will continue to be so until there is some stability in China's economy.
In the meantime, low valuations of Reits and real estate oversupply in Singapore may mean that some takeovers and mergers may occur in the sector this year, Bob Zenouzi, chief investment officer, real estate securities and income solutions, at Macquarie Investment Management told The Business Times.
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