Singapore will see a decade-high supply of industrial spaces in 2024, and this could hurt the prospects for certain REITs that are exposed to the country.
The republic experienced a slowdown in the delivery of industrial properties between 2020 and 2021 due to construction delays, DBS pointed out in a research note on 11 December.
However, as construction activities gradually resumed during 2022, there was a notable
increase in new property completions in these two years, continuing in 2024, the note added, citing figures from industrial regulator JTC Corporation.
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