OUE C-Reit to join FTSE Russell's Global Developed Index series
OUE Commercial Reit (OUE C-Reit) TS0U will be included in the FTSE EPRA Nareit Global Developed Index with effect from Sept 20 this year, announced its manager on Thursday morning.
Designed to track the performance of listed real estate companies and Reits worldwide, the index incorporates Reits as well as real estate holding and development companies.
The index series is a widely followed global benchmark which was jointly developed by FTSE Russell with the EPRA (European Public Real Estate Association) and the Nareit (National Association of Real Estate Investment Trusts).
According to the index's factsheet as at July 30, 2021, there are 17 Singapore Reits and property trusts in the FTSE EPRA Nareit Global Index.
Tan Shu Lin, chief executive of the manager, said OUE C-Reit's inclusion on the index represents a significant milestone which will further enhance the Reit's visibility and investability among global investors.
"Our commitment to driving long-term sustainable growth for unitholders, including the transformational merger with OUE Hospitality Trust back in 2019 to create one of the largest diversified Singapore Reits, has enabled this achievement. We will continue to capitalise on value-enhancing opportunities as they arise for the benefit of unitholders," she said.
Units of OUE C-Reit ended flat on Wednesday at 41 Singapore cents.
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