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Singaporean (SGX) Office REITs Industry Analysis
UpdatedSep 01, 2025
DataAggregated Company Financials
Companies6
- 7D1.7%
- 3M13.2%
- 1Y6.4%
- YTDn/a
In the last week, the Office REITs industry is up 1.7%, with Keppel REIT up 1.0%. This takes the industry's 12 month performance to a gain of 6.4%. As for the next few years, earnings are expected to grow by 17% per annum.
Industry Valuation and Performance
Has the Singaporean Office REITs Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 01 Sep 2025 | S$5.0b | S$949.3m | -S$68,980,179.94 | 25.5x | -72.3x | 5.3x |
| Wed, 30 Jul 2025 | S$4.9b | S$978.4m | -S$53,244,320.92 | 30.4x | -91.7x | 5x |
| Fri, 27 Jun 2025 | S$4.5b | S$978.5m | -S$44,537,414.50 | 26.8x | -101.4x | 4.6x |
| Sun, 25 May 2025 | S$4.3b | S$975.9m | -S$44,832,493.71 | 25.3x | -96.9x | 4.4x |
| Tue, 22 Apr 2025 | S$4.1b | S$979.2m | -S$44,453,325.15 | 22x | -92.8x | 4.2x |
| Thu, 20 Mar 2025 | S$4.4b | S$975.5m | -S$44,876,431.61 | 25.1x | -97.4x | 4.5x |
| Sat, 15 Feb 2025 | S$4.3b | S$1.0b | -S$257,017,937.61 | 20.5x | -16.8x | 4.3x |
| Mon, 13 Jan 2025 | S$4.5b | S$994.3m | -S$338,401,729.64 | 27.2x | -13.2x | 4.5x |
| Wed, 11 Dec 2024 | S$4.5b | S$994.8m | -S$338,972,962.37 | 26.6x | -13.2x | 4.5x |
| Fri, 08 Nov 2024 | S$4.5b | S$995.9m | -S$340,365,195.57 | 27.1x | -13.4x | 4.6x |
| Sun, 06 Oct 2024 | S$5.0b | S$996.3m | -S$340,736,192.90 | 29.9x | -14.6x | 5x |
| Tue, 03 Sep 2024 | S$4.7b | S$997.3m | -S$341,998,288.76 | 27.7x | -13.6x | 4.7x |
| Thu, 01 Aug 2024 | S$4.5b | S$1.0b | -S$619,041,047.70 | 27.2x | -7.2x | 4.5x |
| Sat, 29 Jun 2024 | S$4.1b | S$995.0m | -S$569,969,217.45 | 18.9x | -7.2x | 4.1x |
| Mon, 27 May 2024 | S$4.3b | S$995.8m | -S$571,374,251.62 | 19.7x | -7.6x | 4.4x |
| Wed, 24 Apr 2024 | S$4.3b | S$995.0m | -S$570,090,362.36 | 19.4x | -7.5x | 4.3x |
| Fri, 22 Mar 2024 | S$4.3b | S$995.6m | -S$571,028,755.47 | 19.6x | -7.6x | 4.3x |
| Sun, 18 Feb 2024 | S$4.5b | S$879.3m | -S$418,914,649.50 | 20.2x | -10.7x | 5.1x |
| Tue, 16 Jan 2024 | S$5.0b | S$960.5m | -S$267,852,775.00 | 12.7x | -18.6x | 5.2x |
| Thu, 14 Dec 2023 | S$4.6b | S$959.9m | -S$267,479,820.00 | 11x | -17.4x | 4.8x |
| Sat, 11 Nov 2023 | S$4.2b | S$960.1m | -S$267,611,213.00 | 9.8x | -15.7x | 4.4x |
| Mon, 09 Oct 2023 | S$4.2b | S$959.7m | -S$267,360,405.00 | 9.3x | -15.7x | 4.4x |
| Wed, 06 Sep 2023 | S$4.4b | S$960.7m | -S$268,003,903.00 | 9.5x | -16.5x | 4.6x |
| Fri, 04 Aug 2023 | S$4.8b | S$963.9m | S$190.9m | 10.8x | 25.1x | 5x |
| Sun, 02 Jul 2023 | S$4.9b | S$961.6m | S$332.7m | 8.3x | 14.8x | 5.1x |
| Tue, 30 May 2023 | S$4.9b | S$960.0m | S$331.7m | 8.1x | 14.8x | 5.1x |
| Thu, 27 Apr 2023 | S$5.1b | S$961.5m | S$332.6m | 8.2x | 15.3x | 5.3x |
| Sat, 25 Mar 2023 | S$5.4b | S$958.6m | S$330.9m | 9.5x | 16.5x | 5.7x |
| Mon, 20 Feb 2023 | S$5.8b | S$954.3m | S$487.0m | 8.5x | 12x | 6.1x |
| Wed, 18 Jan 2023 | S$5.7b | S$962.9m | S$814.2m | 5.6x | 7x | 5.9x |
| Fri, 16 Dec 2022 | S$5.9b | S$963.3m | S$815.2m | 6.1x | 7.2x | 6.1x |
| Sun, 13 Nov 2022 | S$6.1b | S$962.3m | S$812.5m | 7x | 7.5x | 6.3x |
| Tue, 11 Oct 2022 | S$6.3b | S$961.0m | S$809.4m | 7.2x | 7.8x | 6.6x |
| Thu, 08 Sep 2022 | S$7.2b | S$960.7m | S$808.6m | 8.8x | 8.9x | 7.5x |
Price to Earnings Ratio
8.9x
Current Industry PE
- Investors are relatively neutral on the Singaporean Office REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PS ratio of 5.0x.
Past Earnings Growth
- Total earnings for the Office REITs industry have declined over the last three years, with the industry now making a loss overall.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Comparison
How does Singaporean Office REITs compare with similar industries?
| SG Market | 0.57% | |
| Real Estate | 1.65% | |
| REITS | 1.75% | |
| Office REITs | 1.75% | |
| Retail REITs | 2.79% | |
| Industrial REITs | 2.23% | |
| Healthcare REITs | 2.20% | |
| Diversified REITs | 1.75% | |
| Hotel and Resort REITs | 1.52% | |
| Specialized REITs | 0% | 0 |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| K71U Keppel REIT | S$0.99 | 2.1% +S$77.8m | 11.8% | PB0.8x | |
| OXMU Prime US REIT | US$0.19 | 7.3% +US$17.0m | -0.5% | PB0.3x | |
| CMOU Keppel Pacific Oak US REIT | US$0.23 | 6.8% +US$15.7m | -9.6% | PB0.3x | |
| UD1U IREIT Global | S$0.28 | 1.8% +S$6.7m | 3.6% | PB0.5x | |
| MXNU Elite UK REIT | UK£0.34 | 1.5% +UK£3.1m | 25.5% | PB0.9x |