ESR-Reit has already merged with Viva Industrial Trust - a move which has significantly improved its trading liquidity. But with a market cap of S$500-plus million, it remains too lightweight for inclusion in the FTSE EPRA/NAREIT Developed Asia Index.
PHOTO: VIVA INDUSTRIAL TRUST
A critical need for scale - the driver behind the merger between OUE Commercial Reit and OUE Hospitality Trust - is likely to spur more mergers within the real estate investment trust (Reit) sector here.
Four of the biggest Reits/business trusts are constituents of the benchmark Straits...