S-Reits’ operating performance robust in Q1 but some macroeconomic headwinds remain 

SINGAPORE-LISTED real estate investment trusts (S-Reits) mostly delivered robust operating performance for the first quarter of 2023, with stable occupancy rates and positive rental reversions.

Even though the sector continued to face headwinds from higher borrowing costs and adverse foreign exchange movements, analysts remain optimistic that S-Reits are in a better position for recovery given the potential pause in interest rate hikes.

Of the 32 S-Reits that provided gross revenue figures in the latest reporting period, 23 reported an improvement while nine saw their top line decline.