Lendlease Reit says Covid-19 may cut rents at 313@somerset

Singapore

THE manager of Lendlease Global Commercial Reit (LReit) on Tuesday noted that the subdued retail sector and leasing demand may potentially depress 313@somerset's rents during lease renewals and when entering into new leases.

"Leasing activities are expected to remain soft due to weak demand against Covid-19 headwinds," it said in a business update for LReit's first fiscal quarter ended Sept 30.