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BTExplains: What Suntec Reit's numbers say about risks in the office segment

Published Wed, Apr 28, 2021 · 04:04 PM

THIS same time last year, most office towers fell into a hush.

Gone were the harried clips of heeled shoes and Oxfords bouncing off the walls of large office lobbies. That silent hum came as safe-distance measures brought on by a global pandemic outbreak forced white-collar office workers to stay home.

Suntec Reit's latest results present one way to understand how workplaces are adapting to new realities again, as more office workers are now allowed back to the office.

While people are still keeping their distance from one another, having more staff streaming into office buildings means a steadier flow of office workers eating and shopping at the retail outlets at the Suntec office towers.

The Reit manager is a major landlord commanding office and retail spaces in Singapore. Properties in its trust portfolio include not just Suntec City, but holdings in One Raffles Quay, towers at the Marina Bay Financial Centres, and the new 9 Penang …