While the previous update on my portfolio was a short 2 weeks ago, I thought it would be good to provide another update because of many changes:
Optimistic on US Office Space
The US Office space has been beaten down badly due to negative sentiments. However, I feel the risk/reward here is skewed. In USA stock market, the US office REITs are currently valued in the region of 0.4 price book while for Singapore's it is at 0.2 time price book. There is inherently no difference in both countries REITs as they are all 100% situated in USA and there is no tax deduction for being listed in Singapore. Hence my expectations is that the Singapore US Office REITs may be in tune to double from their current share price to close the valuation gap.
Sunbelt Cities
Both PRIME and Keppel Pacific owns office buildings in US sunbelt cities (PRIME approximately 53.8% of its portfolio). These cities are seeing a high uptick...