S-REIT Sectors

 

Singapore listed REITs are generally classified as office, retail, industrial, healthcare, hospitality, data centre and diversified. For a breakdown of the different sectors, please see here (under ‘Choice of Sub-Sectors’). For a summary table of Singapore REITs, please click here

Office REITs

These REITs own and manage office real estate and lease these spaces out to tenants.

REITs Market Cap S$Bil Portfolio Value $Bil Country Exposure
1 Keppel REIT 3.5 9.0 Singapore, Australia, South Korea, Japan
2 Prime US REIT 0.3 1.9 USA
3 Manulife US REIT 0.1 1.9 USA
4 Keppel Pacific Oak US REIT 0.4 1.8 USA
5 Elite Commercial REIT 0.3 0.7

UK

  • Source:  Market cap – SGX (as at end February 2024 from SGX S-REIT February 2024 Chartbook)
  • Portfolio value and country exposure – latest company reports available as at 31 December 2023

 

Industrial REITs

Industrial REITs own and manage industrial facilities such as warehouses and distribution centres and lease these spaces out to tenants.


REITs Market Cap S$Bil Portfolio Value S$Bil Country Exposure
1 CapitaLand Ascendas REIT 12.8 16.9 Singapore, Australia, UK, USA, Netherlands, France, Switzerland
2 Mapletree Logistics Trust 7.7 13.3 Singapore, Australia, China, Hong Kong, India, Japan, Vietnam, Malaysia, South Korea
3 Mapletree Industrial Trust 6.9 9.2 Singapore, USA
4 ESR-LOGOS REIT 2.4 5.1 Singapore, Australia, Japan
5 AIMS APAC REIT 1.1 2.2 Singapore, Australia
6 Sabana Industrial REIT 0.4 0.9 Singapore
7 Daiwa House Logistics Trust 0.4 0.8 Japan
8 EC World REIT NA 0.8 China
  • Source:  Market cap – SGX (as at end-February 2024 from SGX S-REIT February 2024 Chartbook)
  • Portfolio value and country exposure – latest company reports available as at 31 December 2023

 

Retail REITs

Retail REITs own and manage retail real estate and lease these spaces out to tenants.

REITs/Property Trusts Market Cap S$Bil Portfolio Value S$Bil Country Exposure
1 Frasers Centrepoint Trust 3.9 6.5 Singapore
2 Paragon REIT 2.5 4.1 Singapore, Australia
3 Starhill Global REIT 1.2 2.8 Singapore, Australia, Malaysia, Japan, China
4 Sasseur REIT 0.8 1.6 China
5 Lippo Malls Indonesia Retail Trust 0.1 1.5 Indonesia
6 United Hampshire US REIT 0.4 1.0 USA
7 BHG Retail REIT 0.3 0.9 China
8 Dasin Retail Trust* 0.0 2.1 China

*Dasin Retail Trust is a Property Trust.

  • Source:  Market cap – SGX (as at end February 2024 from SGX S-REIT February 2024 Chartbook)
  • Portfolio value and country exposure – latest company reports available as at 31 December 2023
Healthcare REITs

Healthcare REITs own and manage various types of healthcare properties such as hospitals, nursing homes and medical centres.

REITs/Property trusts Market Cap S$Bil Portfolio Value S$Bil Country Exposure
1 Parkway Life REIT 2.1 2.2 Singapore, Malaysia, Japan
2 First REIT 0.5 1.1 Singapore, Indonesia, Japan
  • Source:  Market cap – SGX (as at end February 2024 from SGX S-REIT February 2024 Chartbook)
  • Portfolio value and country exposure – latest company reports available as at 31 December 2023
Hospitality REITs

Hospitality trusts in Singapore are typically structured as stapled trusts where one unit of the REIT will be stapled to one unit of the business trust. The REIT component will hold the assets which are then master leased to the hotel operator (e.g. the sponsor) which will be operating the hotel while the business trust component typically serves as “master lessee of last resort” in case the master lease arrangement falls away although some stapled trusts have active business trusts which own and operate the hotels as well.

Stapled trusts  Market cap S$Bil Portfolio Value S$Bil Country Exposure
1 CapitaLand Ascott Trust 3.6 8.7 Singapore, Australia, Indonesia, Malaysia, Vietnam, Philippines, China, Japan, Spain, France, Belgium, Germany, UK, USA, South Korea
2 CDL Hospitality Trusts 1.3 3.0 Singapore, Australia, New Zealand, The Maldives, Japan, UK, Germany, Italy
3 Far East Hospitality Trust 1.3 2.5 Singapore
4 Frasers Hospitality Trust 0.9 1.9 Singapore, Australia, UK, Malaysia, Germany, Japan, Scotland
5 ARA US Hospitality Trust 0.2 1.0 USA
6 Eagle Hospitality Trust USA
  • Trading of Eagle Hospitality Trust was voluntarily suspended since 24 March 2020
  • Source:  Market cap – SGX (as at end February 2024 from SGX S-REIT February 2024 Chartbook)
  • Portfolio value and country exposure – latest company reports available as at 31 December  2023
Data Centre REITs

Data Centre REITs own and manage facilities that house customers’ server racks which are used to store, process and distribute data. They provide required power and cooling with redundancy, as well as connectivity and fire protection.

REIT** Market cap S$Bil Portfolio Value S$Bil Country Exposure
1 Keppel DC REIT 2.9 3.6 Singapore, Australia, Germany, UK, Italy, Malaysia, The Netherlands, Ireland, China
2 Digital Core REIT 1.0 1.4 USA, Canada, Germany, Japan
  • Source:  Market cap – SGX (as at end February 2024 from SGX S-REIT February 2024 Chartbook)
  • Portfolio value and country exposure – latest company reports available as at 31 December 2023

** Mapletree Industrial Trust and CapitaLand Ascendas REIT (both in the industrial REITs category), also own data centres.

Diversified REITs

Diversified REITs own and manage a mix of property types and collect rent from tenants. For example, diversified REITs may own portfolios made up of both office and retail properties.

REITs/Property trusts Market cap S$Bil Portfolio Value S$Bil Country Exposure
1 CapitaLand Integrated Commercial Trust 13.4 24.5 Singapore, Germany, Australia
2 Mapletree Pan Asia Commercial Trust 7.7 16.6 Singapore, China, Hong Kong, Japan, South Korea
3 Suntec REIT 3.5 12.2 Singapore, Australia, UK
4 Frasers Logistics & Commercial Trust 4.2 6.7 Singapore, Australia, Germany, The Netherlands, UK
5 OUE REIT 1.6 6.3 Singapore, China
6 CapitaLand China Trust 1.4 4.5 China
7 Lendlease Global Commercial REIT 1.5 3.7 Singapore, Italy
8 Cromwell European REIT 1.1 3.4 Denmark, France, Finland, Germany, Italy, Poland, Slovakia, The Czech Republic, The Netherlands, UK
9 CapitaLand India Trust* 1.4 3.0 India
10 IREIT Global 0.5 1.3 Germany, Spain, France

*CapitaLand India Trust is a Property Trust.

Excludes RHT Health Trust which has become a cash trust and trading has been suspended

  • Source:  Market cap – SGX (as at end February 2024 from SGX S-REIT February 2024 Chartbook); 
  • Portfolio value and country exposure – latest company reports available as ay 31 December 2023

 

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