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It has been barely two years since Cromwell European REIT (CEREIT) announced a pivot into the logistics sector, but it now looks set to embark on the next phase of growth.

CEREIT was listed on the Singapore Exchange (SGX) in November 2017 and its original investment portfolio was heavily tilted towards the office sector.

But amid the COVID-19 pandemic in 2020, the REIT announced a pivot towards the logistics sector to capitalise on favourable fundamentals, such as strong demand for these asset types.

Related: Cromwell European REIT to persist with logistics pivot beyond 50% target