Industrial Reits asked to step up as government rebates fall short

Tenants who run retail outlets as well as industrial operations are feeling the impact of the outbreak on both ends

Published Thu, Apr 30, 2020 · 09:50 PM

Singapore

SOME industrial real estate investment trusts (Reits) such as Mapletree Industrial Trust (MIT) and Ascendas Reit may have to dig deeper into their coffers than unitholders are prepared for as tenants seek further reliefs.

This comes as Singapore's partial lockdown amid the virus outbreak has hit businesses across most sectors, not just those at the frontline. And for a certain group of tenants that not only run retail outlets but also industrial operations, the impact of the outbreak is keenly felt on both ends of the business.

Yet, the property tax rebate to be passed down to in…