Suntec Singapore has hosted 650,000 visitors since June opening

Affirms status as favorite MICE destination.

Suntec REIT announced that its major enhancement of Suntec City has reached a milestone with the opening of Phase 1 and Suntec Singapore.

Management also reported to research firm OCBC that Suntec Singapore has hosted 96 events and 650k visitors since opening in Jun 2013, which for the research firm, is enough to affirm the venue's status as an attractive Meetings, Incentives, Conventions and Exhibitions (MICE) destination.

Suntec Singapore is expected to book a full calendar ahead for 2013 with customers like Spikes Asia, IFLA, etc.

The newly created retail space at Phase 1 now houses ~100 retail outlets and 50 F&B restaurants, including UNIQLO’s largest outlet in Singapore.

"We continue to believe that the outlook and valuation remain attractive for Suntec REIT. Maintain BUY with an unchanged fair value estimate of S$1.80," said OCBC.