Suntec REIT’s portfolio comprises prime retail and office properties in Singapore and the Australian cities of Sydney, Melbourne, and Adelaide. In Singapore, some of Suntec REIT’s well-known properties include Suntec City, One Raffles Quay, and Marina Bay Financial Centre (MBFC) Towers 1 and 2.
Looking at Suntec REIT’s geographic segments, Suntec REIT derived 84% of its net property income (NPI) from its Singapore properties in FY2019, while the rest was derived from its Australian properties. Suntec REIT’S largest property by NPI contribution was Suntec City, which contributed 51% of Suntec REIT’s NPI in FY2019.
Sector wise, Suntec REIT derived 68% of its NPI from its office properties while 28% was derived from its retail properties. The remaining 4% of its NPI was derived from its convention business segment.
Suntec REIT’s retail malls appear to have been badly affected by the lockdown measures imposed due to COVID-19....
