Maybank keeps Singapore office REITs at ‘neutral’, remains cautious over falling rents

SINGAPORE (June 23): Maybank is maintaining its “neutral” stance on Singapore’s office REITs with continued concerns over falling rents.

In a Wednesday report, analysts Derrick Heng and Joshua Tan recall that M+S recently announced the topping out of its flagship development, Marina One.

M+S is a joint venture between Temasek Holdings and Khazanah Nasional. It expects Marina One to be completed by 2017, which comes slightly later than earlier expectations of completion in 2H16.

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