Hospitality lags while industrial S-Reits defy tariff concerns in H1 results

[SINGAPORE] While the hospitality sector “disappointed” in the latest half-year results for Singapore real estate investment trusts (S-Reits), the industrial sector turned in a better-than-expected performance despite concerns over the impact of US tariffs, analysts said.

Overall, analysts agreed that S-Reits’ latest results were largely in line with market expectations.

Of the 31 trusts that provided revenue data, 16 reported a decline, while 15 posted higher revenue compared to the same period last year. Net property income (NPI) fell for 20 out of the 33 trusts that reported this figure, with 12 posting increases and one trust showing no change year on year.