Singapore REITs with exposure to the food & beverage (F&B) sector emerged as amongst the biggest losers at the close of trading on 14 May, after the country announced a significant tightening of COVID-19-related social restrictions.
Amid a sudden rise in the number of community cases infected with the B.1.617 variant that was first detected in India, F&B outlets across the country are no longer allowed to accept dine-in customers with effect from 16 May.
In addition to this, social gatherings are now limited to a maximum of two persons, effectively eliminating a large number of outings to malls and other retail assets.
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