The unit price of Elite Commercial REIT closed about 8.3% lower from its previous close on 5 December on revelation that its portfolio has been devalued by more than 11%.

Elite Commercial REIT is a Singapore Exchange (SGX)-listed REIT that owns a portfolio of mostly office assets across the UK.

The REIT disclosed on 5 December that it has obtained independent external valuations for the 150 properties it owns.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.