David Snyder, CEO of Keppel Pacific Oak US REIT (Photo: KORE)

2024 will be another tough year for the US office market, but Keppel Pacific Oak US REIT (KORE) is “well-insulated” against the worst of what the year would bring.

This was the sentiment projected by the REIT in response to questions from REITsWeek on the US office market, and how US-focused REITs are expected to fare for the year.

KORE is a US-focused, but Singapore Exchange (SGX)-listed office REIT and it has a portfolio of 13 freehold assets.

It is one of three US-focused office REITs on the SGX today, all of which are besieged by concerns over occupancy and the seeming reluctance from US office workers to get back into the office post-pandemic.

Related: Keppel Pacific Oak US REIT lays out strategy for underperforming asset

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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.