Retail REITs, residential developers could register "decent" growth in September

2 key growth drivers cited.

According to Barclays' assessment ahead of the incoming Septermber quarter results for Singapore REITs, retail REITs and residential developers "could register decent growth due to completion of previous years’ investments (CT), and progress with or delivery of developments (CAPL, KPLD, CIT), especially CAPL, which we expect to be strong due to delivery of its Shanghai residential projects."

Meanwhile, Barclays expects the Sep quarter DPU for the Office and Industrial sectors to be flattish to down slightly, due to company-specific issues such as expiry of income support (CCT -2% y/y), AEI disruption (SUN -4% y/y), and exit of a key tenant (MINT -1% y/y) -- all of which, it notes, are relatively well flagged already in the market.