{"id":334616,"date":"2022-10-26T20:39:02","date_gmt":"2022-10-26T12:39:02","guid":{"rendered":"https:\/\/www.mingtiandi.com\/?p=334616"},"modified":"2023-01-26T11:15:14","modified_gmt":"2023-01-26T03:15:14","slug":"singapore-reits-challenged-by-rising-interest-rates","status":"publish","type":"post","link":"https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/","title":{"rendered":"Lendlease REIT, Manulife US REIT, JLL See Rising Competition for S-REITs"},"content":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\"><a href=\"https:\/\/player.vimeo.com\/video\/762672225?h=ef8d2874fd\" id=\"762672225\" class=\"lazy-load-vimeo preview-lazyload preview-vimeo\" data-video-thumbnail=\"https:\/\/i.vimeocdn.com\/video\/1534421921-c62aaf51dd522d32b85362c1cef90caeebeeda06c4cdd4845d71c50407423f9c-d_295x166\" data-video-title=\"Singapore REIT Panel\" title=\"Play video &quot;Singapore REIT Panel&quot;\">https:\/\/player.vimeo.com\/video\/762672225?h=ef8d2874fd<\/a><noscript>Video can&#8217;t be loaded because JavaScript is disabled: <a href=\"https:\/\/player.vimeo.com\/video\/762672225?h=ef8d2874fd\" title=\"Singapore REIT Panel\">Singapore REIT Panel (https:\/\/player.vimeo.com\/video\/762672225?h=ef8d2874fd)<\/a><\/noscript><\/div>\n<p>&nbsp;<br \/>\nThe managers of Singapore\u2019s real estate investment trusts are bracing for headwinds amid volatile global markets, according to top executives from Manulife US REIT, Lendlease Global Commercial REIT, and JLL in a panel at the Mingtiandi Singapore Forum moderated by David Green-Morgan, head of real assets research for MSCI.<\/p>\n<p>\u201cI think comparatively speaking, the S-REITs have been holding up relatively well compared to our peers in the US,\u201d said Tripp Gantt, chief executive officer at Manulife US REIT. \u201cI think the FTSE S-REIT index is down by about 15 percent so far in the year to date, (and) we\u2019re looking at maybe twice that in the US and Australia,\u201d he added. \u201cSo all things considered, the S-REITs have been relatively resilient.\u201d<\/p>\n<p style=\"text-align: center;\"><div style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"mingt-485397564\"><a data-no-instant=\"1\" href=\"https:\/\/info.altusgroup.com\/apac-altus-valuation\/?utm_campaign=23_AA_APAC_VA_Brand_Mingtiandi-Display-Ads_Website&#038;utm_medium=display-digital&#038;utm_source=&#038;utm_content=Website&#038;sfid=7012M000002m8TN\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Altus - Valuation Management 780x250 Banner\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01.png\" alt=\"Altus - Valuation Management 780x250 Banner\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01.png 1560w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01-400x128.png 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01-1024x329.png 1024w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01-1536x493.png 1536w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Valuation-management-Mingtiandi-ads-01-640x206.png 640w\" sizes=\"(max-width: 1560px) 100vw, 1560px\" width=\"780\" height=\"250\"  style=\"display: inline-block;\" \/><\/a><\/div><\/p>\n<p>Although the Singapore REIT industry is \u201crelatively well-established,\u201d there are rising concerns regarding funding costs, but also availability of quality assets, said Kelvin Chow, chief executive officer at Lendlease Global Commercial REIT.<\/p>\n<p>\u201cThe issue is, the competitive landscape domestically is becoming more and more competitive, so there\u2019s becoming fewer opportunities to grow organically within Singapore,\u201d said Tim Graham, head of international capital for Asia Pacific at JLL.<\/p>\n<h3>Global REIT Hub<\/h3>\n<p>Given the growing competition domestically, and the ability to access capital through the Singapore exchange, REITs listed in the Lion City are playing a growing role on the global stage.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 25%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div data-carousel-extra='{\"blog_id\":1,\"permalink\":\"https:\\\/\\\/www.mingtiandi.com\\\/real-estate\\\/events\\\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\\\/\"}' id='gallery-1' class='gallery galleryid-334616 gallery-columns-4 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/attachment\/dsc06686-jpg-kelvin-chow\/'><img decoding=\"async\" data-attachment-id=\"334631\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06686.JPG-Kelvin-Chow.jpg\" data-orig-size=\"1500,1808\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;3.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666075177&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;172&quot;,&quot;iso&quot;:&quot;1600&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC06686.JPG &#8211; Kelvin Chow\" data-image-description=\"&lt;p&gt;Kelvin Chow, Lendlease Global Commercial REIT &lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06686.JPG-Kelvin-Chow-332x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06686.JPG-Kelvin-Chow-850x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06686.JPG-Kelvin-Chow-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Kelvin Chow, Lendlease Global Commercial REIT\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06686.JPG-Kelvin-Chow-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06686.JPG-Kelvin-Chow-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06686.JPG-Kelvin-Chow-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06686.JPG-Kelvin-Chow-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06686.JPG-Kelvin-Chow-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/attachment\/dsc06679-jpg-david-green-morgan\/'><img decoding=\"async\" data-attachment-id=\"334630\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06679.JPG-David-Green-Morgan.jpg\" data-orig-size=\"1500,1130\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;3.2&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666075139&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;102&quot;,&quot;iso&quot;:&quot;2500&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC06679.JPG &#8211; David Green-Morgan\" data-image-description=\"&lt;p&gt;David Green-Morgan, MSCI&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06679.JPG-David-Green-Morgan-400x301.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06679.JPG-David-Green-Morgan-1024x771.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06679.JPG-David-Green-Morgan-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"David Green-Morgan, MSCI\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06679.JPG-David-Green-Morgan-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06679.JPG-David-Green-Morgan-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06679.JPG-David-Green-Morgan-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06679.JPG-David-Green-Morgan-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06679.JPG-David-Green-Morgan-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/attachment\/dsc06694-jpg-kelvin-chow\/'><img decoding=\"async\" data-attachment-id=\"334632\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06694.JPG-Kelvin-Chow.jpg\" data-orig-size=\"1500,1646\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;3.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666075231&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;180&quot;,&quot;iso&quot;:&quot;1600&quot;,&quot;shutter_speed&quot;:&quot;0.00625&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC06694.JPG &#8211; Kelvin Chow\" data-image-description=\"&lt;p&gt;Kelvin Chow, Lendlease Global Commercial REIT &lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06694.JPG-Kelvin-Chow-365x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06694.JPG-Kelvin-Chow-933x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06694.JPG-Kelvin-Chow-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Kelvin Chow, Lendlease Global Commercial REIT\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06694.JPG-Kelvin-Chow-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06694.JPG-Kelvin-Chow-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06694.JPG-Kelvin-Chow-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06694.JPG-Kelvin-Chow-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06694.JPG-Kelvin-Chow-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/attachment\/dsc06734-jpg-tim-graham\/'><img decoding=\"async\" data-attachment-id=\"334633\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham.jpg\" data-orig-size=\"1500,1492\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;3.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666075367&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;80&quot;,&quot;iso&quot;:&quot;1600&quot;,&quot;shutter_speed&quot;:&quot;0.00625&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC06734.JPG &#8211; Tim Graham\" data-image-description=\"&lt;p&gt;Tim Graham, JLL&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-400x398.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-1024x1019.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Tim Graham, JLL\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-400x398.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-1024x1019.jpg 1024w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham-250x250.jpg 250w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06734.JPG-Tim-Graham.jpg 1500w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/attachment\/dsc06739-jpg-tim-graham\/'><img decoding=\"async\" data-attachment-id=\"334634\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06739.JPG-Tim-Graham.jpg\" data-orig-size=\"1500,1824\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;3.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666075370&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;80&quot;,&quot;iso&quot;:&quot;1600&quot;,&quot;shutter_speed&quot;:&quot;0.00625&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC06739.JPG &#8211; Tim Graham\" data-image-description=\"&lt;p&gt;Tim Graham, JLL&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06739.JPG-Tim-Graham-329x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06739.JPG-Tim-Graham-842x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06739.JPG-Tim-Graham-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Tim Graham, JLL\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06739.JPG-Tim-Graham-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06739.JPG-Tim-Graham-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06739.JPG-Tim-Graham-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06739.JPG-Tim-Graham-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06739.JPG-Tim-Graham-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/attachment\/dsc06744-jpg-david-green-morgan\/'><img decoding=\"async\" data-attachment-id=\"334635\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06744.JPG-David-Green-Morgan-e1683811612540.jpg\" data-orig-size=\"780,523\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;3.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666075508&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;180&quot;,&quot;iso&quot;:&quot;1600&quot;,&quot;shutter_speed&quot;:&quot;0.00625&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC06744.JPG &#8211; David Green-Morgan\" data-image-description=\"&lt;p&gt;David Green-Morgan, MSCI&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06744.JPG-David-Green-Morgan-e1683811612540-400x268.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06744.JPG-David-Green-Morgan-e1683811555977-1024x687.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06744.JPG-David-Green-Morgan-e1683811612540-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"David Green-Morgan, MSCI\" aria-describedby=\"gallery-1-334635\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06744.JPG-David-Green-Morgan-e1683811612540-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06744.JPG-David-Green-Morgan-e1683811612540-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06744.JPG-David-Green-Morgan-e1683811612540-260x260.jpg 260w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-334635'>\n\t\t\t\tDavid Green-Morgan, head of real assets research at MSCI\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/attachment\/dsc06761-jpg-tripp-gantt\/'><img decoding=\"async\" data-attachment-id=\"334636\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06761.JPG-Tripp-Gantt-e1669364694470.jpg\" data-orig-size=\"450,426\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666075575&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;168&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC06761.JPG &#8211; Tripp Gantt\" data-image-description=\"&lt;p&gt;Tripp Gantt, Manulife US REIT&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06761.JPG-Tripp-Gantt-e1669364694470-400x379.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06761.JPG-Tripp-Gantt-e1669364663887-766x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06761.JPG-Tripp-Gantt-e1669364694470-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Tripp Gantt, Manulife US REIT\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06761.JPG-Tripp-Gantt-e1669364694470-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06761.JPG-Tripp-Gantt-e1669364694470-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06761.JPG-Tripp-Gantt-e1669364694470-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06761.JPG-Tripp-Gantt-e1669364694470-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/attachment\/dsc06766-jpg-tripp-gantt\/'><img decoding=\"async\" data-attachment-id=\"334637\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06766.JPG-Tripp-Gantt.jpg\" data-orig-size=\"1341,1920\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1666075580&quot;,&quot;copyright&quot;:&quot;2022 MTD Media&quot;,&quot;focal_length&quot;:&quot;168&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"DSC06766.JPG &#8211; Tripp Gantt\" data-image-description=\"&lt;p&gt;Tripp Gantt, Manulife US REIT&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06766.JPG-Tripp-Gantt-279x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06766.JPG-Tripp-Gantt-715x1024.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06766.JPG-Tripp-Gantt-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Tripp Gantt, Manulife US REIT\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06766.JPG-Tripp-Gantt-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06766.JPG-Tripp-Gantt-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06766.JPG-Tripp-Gantt-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06766.JPG-Tripp-Gantt-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/10\/DSC06766.JPG-Tripp-Gantt-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>\u201cSo if you look at the rate of growth of the S-REIT market by market cap, it\u2019s grown 13 percent per annum for the last ten years. So we\u2019re now in a position where the S-REIT market covers $100 billion (in assets under management),\u201d said JLL\u2019s Graham, noting that nearly half of that AUM is overseas.<\/p>\n<p>As of 30 June, over 90 percent of S-REITs and property trusts \u2013 by both number and market capitalization \u2013 own properties outside Singapore across Asia Pacific, South Asia, Europe and USA, according to <a href=\"https:\/\/www.reitas.sg\/singapore-reits\/overview-of-the-s-reit-industry\/\">data from the REIT Association of Singapore<\/a>. About 41 percent of S-REITs\u2019 real estate portfolios consisted entirely of overseas properties.<\/p>\n<p>In September this year, six S-REITs announced deals valued at approximately S$2.7 billion ($1.9 billion) in total, according to <a href=\"https:\/\/www.sgx.com\/research-education\/market-updates\/20221017-reit-watch-maiden-acquisitions-made-s-reits-september\">market updates on the Singapore Exchange<\/a>. These included data centres and logistics, healthcare and retail properties \u2013 mostly located in Japan \u2013 as well as Germany, the US and Singapore.<\/p>\n<h3>Asset Pricing Challenges<\/h3>\n<p>Although deals continued to take place over the past month, Lendlease REIT\u2019s Chow said that, for now, it is hard to acquire good assets, unless investors look at second or third-tier properties. Chow, who oversees a portfolio which has 88 percent of its assets by value in Singapore, said, \u201cif it&#8217;s a good asset, it wouldn\u2019t sell for cheap.\u201d<\/p>\n<p>With &#8220;wide swings in share prices&#8221; occurring on a day-to-day basis, Manulife US REIT\u2019s chief executive pointed to growing challenges in raising cash. \u201cI think it\u2019s going to be really tough for S-REITs to raise new capital in the near term future,\u201d said Gantt. \u201cSo I think a lot of us are going to be looking at opportunities to recycle capital.\u201d<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/oxford-ivanhoe-kic-savills-on-singapore-india-markets\/\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"14 NOVEMBER 2023 conrad centennial Singapore\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>Noting that the US is at least six months ahead in terms of the market downturn, Gantt said, \u201cour peers in the US are facing the exact same kind of issues that we are \u2013 and so I think right now, it\u2019s a time to make sure we\u2019re being conservative, making sure that we maintain and strengthen our balance sheet, and making sure that we can weather the storm. \u201d<\/p>\n<p>\u201cI think a lot of it is going to have to do with finding the assets you know you can win on over the long term, and making sure you\u2019re very, very prudent in how you spend money, and making sure that the investments that you make (will pay off in the long term),\u201d he said.<\/p>\n<h3>Singapore Stays Attractive<\/h3>\n<p>Despite slowing asset transaction volumes in the second half of this year, the panelists see Singapore as an attractive target both for asset acquisitions and for raising capital.<\/p>\n<p>Citing <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/ivanhoe-oxford-allianz-expect-singapore-tech-demand\/\">an earlier panel at the Mingtiandi Singapore Forum<\/a>, JLL\u2019s Graham noted that global investors including Canada\u2019s Ivanhoe Cambridge and Oxford Properties, are looking to increase their allocation to Singapore as the city\u2019s real estate markets grow in value.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mipim-asia.com\/?utm_source=mingtiandi&#038;utm_medium=barter_website&#038;utm_campaign=mipimasia2023\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"AR-607487_Mipim Asia_23_Banner Resize 780&#215;250\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>\u201cI think (this) creates a huge opportunity for Singapore-based REITs because they are looking to capitalise on AUM growth \u2013 they\u2019re looking to grow their assets under management all the time,\u201d Graham said.<\/p>\n<p>Lendlease REIT\u2019s Chow sees Singapore\u2019s governance standards and clear regulatory environment giving the city an edge as a financial hub.<\/p>\n<p>\u201cExcept for Japan, I think we are one of the largest (REIT markets in Asia, because we have) good transparency,\u201d said Lendlease REIT\u2019s Chow. \u201cSingapore is actually a good environment for investors to come into,\u201d he added. \u201c(It\u2019s) well plugged into Europe, US and Asia,\u201d making the Lion City a \u201cgood house for investment,\u201d according to Chow.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\">https:\/\/player.vimeo.com\/video\/762672225?h=ef8d2874fdVideo can&#8217;t be loaded because JavaScript is disabled: Singapore REIT Panel (https:\/\/player.vimeo.com\/video\/762672225?h=ef8d2874fd)<\/div>\n<p>&nbsp; The managers of Singapore\u2019s real estate investment trusts are bracing for headwinds amid volatile global markets, according to top executives from Manulife US REIT,&#8230;&nbsp;<a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/lendlease-reit-manulife-us-reit-jll-see-rising-competition-for-s-reits\/\">Read&nbsp;More>><\/a><\/p>\n","protected":false},"author":11578,"featured_media":334623,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3456],"tags":[5382,1671,8003,7279,6450,8380,8400,781,282,9009],"ppma_author":[8902],"authors":[{"term_id":8902,"user_id":11578,"is_guest":0,"slug":"pawara-laothamatas","display_name":"Pawara Laothamatas","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/5b39b9fbd02a106fa5c53c7c7b954339?s=96&d=mm&r=g","user_url":"","last_name":"Laothamatas","first_name":"Pawara","description":""}],"_links":{"self":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/334616"}],"collection":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/users\/11578"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/comments?post=334616"}],"version-history":[{"count":0,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/334616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media\/334623"}],"wp:attachment":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media?parent=334616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/categories?post=334616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/tags?post=334616"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/ppma_author?post=334616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}