Starhill Global REIT's Ngee Ann City property. (Photo: REITsWeek)

OCBC Investment Research has slashed its fair value estimate on Starhill Global REIT, citing challenging operating conditions ahead in the near-term.

The REIT, which has a portfolio of ten retail properties in Australia, China, Malaysia, Japan, and Singapore, has registered negative total returns of -12.2% in the year-to-date (YTD).

This is significantly below YTD returns for the broader Singapore REITs sector, which is currently at -6.1%.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.