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 Asset Value $Bil Country Exposure
1 Keppel REIT 4.1 8.9 Singapore, Australia, South Korea
2 Manulife US REIT 1.5 2.2 USA
3 Prime US REIT 1.2 2.2 USA
4 Keppel Pacific Oak US REIT 1.0 2.0 USA
5 IREIT Global 0.7 1.5 Germany, Spain
6 Elite Commercial REIT 0.6 0.9 UK
  • Source:  Market cap – SGX (as at end December 2021)
  • Portfolio value and country exposure – company reports (as at end December 2021)

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$Bil Asset Value S$Bil Country Exposure
1 Mapletree Logistics Trust 7.9 11.5 Singapore, Australia, China, Hong Kong, India, Japan, Vietnam, Malaysia, South Korea
2 Mapletree Industrial Trust 6.7 8.6 Singapore, USA
3 ESR-REIT 1.7 3.2 Singapore
4 AIMS APAC REIT 0.9 2.2 Singapore, Australia
5 ARA LOGOS Logistics Trust 1.2 1.8 Singapore, Australia
6 EC World REIT 0.6 1.7 China
7 Sabana Industrial REIT 0.5 0.9 Singapore
8 Daiwa House Logistics Trust 0.5 0.9 Singapore, Australia
  • Source:  Market cap – SGX (as at end-December 2021)
  • Portfolio value and country exposure – company reports (as at end December 2021)

Retail REITs

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

REITs/Property Trusts Market Cap S$Bil Asset Value S$Bil Country Exposure
1 Frasers Centrepoint Trust 4.1 6.1 Singapore
2 SPH REIT 2.5 4.2 Singapore, Australia
3 Starhill Global REIT 1.3 3.1 Singapore, Australia
4 Dasin Retail Trust* 0.6 2.3 China
5 Sasseur REIT 0.6 1.9 China
6 Lippo Mall Indonesia Retail Trust 0.5 1.8 Indonesia
7 BHG Retail REIT 0.3 1.0 China
8 United Hampshire REIT 0.5 0.8 USA

*Dasin Retail Trust is a Property Trust.

  • Source:  Market cap – SGX (as at end April 2021)
  • Portfolio value and country exposure – company reports (as at end April 2021)
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$Bil Asset Value S$Bil Country Exposure
1 Parkway Life REIT 2.5 2.1 Singapore, Malaysia, Japan
2 First REIT 0.4 0.9 Singapore, Indonesia, South Korea
  • Source:  Market cap – SGX (as at end April 2021)
  • Portfolio value and country exposure – company reports (as at end April 2021)
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$Bil Portfolio Size S$Bil Country Exposure
1 Ascott Residence Trust 3.3 7.2 Singapore, Australia, Indonesia, Malaysia, Vietnam, The Philippines, China, Japan, Spain, France, Belgium, Germany, UK, USA
2 CDL Hospitality Trust 1.5 2.9 Singapore, Australia, New Zealand, The Maldives, Japan, UK, Germany
3 Far East Hospitality Trust 1.2 2.6 Singapore
4 Frasers Hospitality Trust 1.0 2.4 Singapore, Australia, UK, Malaysia, Germany, Japan
5 ARA Hospitality Trust 0.3 1.0 USA
6 Eagle Hospitality Trust USA
  • Trading of Eagle Hospitality Trust was voluntarily suspended on 24 March 2020
  • Source:  Market cap – SGX (as at end April 2021)
  • Portfolio value and country exposure – company reports (as at end April 2021)
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$Bil Asset Value S$Bil Country Exposure
1 Keppel DC REIT 4.9 3.3 Singapore, Australia, Germany, UK, Italy, Malaysia, The Netherlands, Ireland
2 Digital Core REIT 1.8 2.3 USA
  • Source:  Market cap – SGX (as at end December 2021)
  • Portfolio value and country exposure – company reports (as at end December 2021)

** Mapletree Industrial Trust and 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$Bil Asset Value S$Bil Country Exposure
1 CapitaLand Integrated Commercial Trust 12.8 22.5 Singapore, Germany
2 Ascendas REIT 11.6 16.3 Singapore, Australia, UK, USA
3 Suntec REIT 4.4 12.2 Singapore, Australia
4 Mapletree Commercial Trust 6.0 8.8 Singapore
5 Mapletree North Asia Commercial Trust 3.8 8.4 China, Hong Kong, Japan
6 Frasers Logistics & Commercial Trust 5.1 7.3 Singapore, Australia, Germany, The Netherlands, UK
7 OUE Commercial REIT 2.2 5.8 Singapore, China
8 CapitaLand China Trust 2.0 4.9 China
9 Cromwell European REIT 2.0 3.8 Denmark, France, Finland, Germany, Italy, Poland, Slovakia, The Czech Rebublic, The Netherlands
10 Ascendas India Trust* 1.5 2.4 India
11 Lendlease Global Commercial REIT 1.0 1.4 Singapore, Italy

*Ascendas 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 December 2021); 
  • Portfolio value and country exposure – company reports (as at end December 2021)

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