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Singaporean (SGX) Office REITs Industry Analysis

UpdatedJul 06, 2025
DataAggregated Company Financials
Companies6
  • 7D-0.8%
  • 3M4.8%
  • 1Y9.8%
  • YTDn/a

In the last week, the Office REITs industry is flat overall, with Keppel Pacific Oak US REIT standing out by going down 8.9%. The past year has been better, since the industry has gained 9.8% in that time. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

Has the Singaporean Office REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 07 Jul 2025S$4.6bS$979.1m-S$44,473,219.7027.5x-102.7x4.7x
Wed, 04 Jun 2025S$4.4bS$976.6m-S$44,751,230.4627.2x-98.6x4.5x
Fri, 02 May 2025S$4.3bS$977.4m-S$44,664,722.3224x-96.5x4.4x
Sun, 30 Mar 2025S$4.4bS$974.9m-S$44,941,298.4425.6x-97.7x4.5x
Tue, 25 Feb 2025S$4.2bS$968.1m-S$180,087,719.1424.9x-23.5x4.4x
Thu, 23 Jan 2025S$4.5bS$994.9m-S$339,067,022.7426.7x-13.4x4.6x
Sat, 21 Dec 2024S$4.4bS$994.8m-S$338,946,208.3226.2x-12.9x4.4x
Mon, 18 Nov 2024S$4.5bS$994.9m-S$339,157,293.7427.2x-13.2x4.5x
Wed, 16 Oct 2024S$4.9bS$996.0m-S$340,377,802.7329.3x-14.4x4.9x
Fri, 13 Sep 2024S$4.8bS$996.7m-S$341,317,103.8529x-14.2x4.8x
Sun, 11 Aug 2024S$4.3bS$991.3m-S$353,236,237.7325.9x-12.2x4.3x
Tue, 09 Jul 2024S$4.2bS$995.6m-S$571,052,614.1919.4x-7.3x4.2x
Thu, 06 Jun 2024S$4.3bS$995.8m-S$571,419,280.1019.5x-7.5x4.3x
Sat, 04 May 2024S$4.3bS$995.0m-S$570,092,378.5819.6x-7.6x4.3x
Mon, 01 Apr 2024S$4.4bS$995.2m-S$570,411,236.4519.6x-7.7x4.4x
Wed, 28 Feb 2024S$4.3bS$891.6m-S$570,737,386.5619.6x-7.6x4.9x
Fri, 26 Jan 2024S$4.8bS$960.5m-S$267,863,616.0011.9x-18.1x5x
Sun, 24 Dec 2023S$4.9bS$960.4m-S$267,823,431.0012.3x-18.5x5.1x
Tue, 21 Nov 2023S$4.6bS$960.7m-S$268,016,167.0010.9x-17x4.8x
Thu, 19 Oct 2023S$4.2bS$959.7m-S$267,376,189.009.2x-15.6x4.3x
Sat, 16 Sep 2023S$4.4bS$960.6m-S$267,914,766.009.7x-16.6x4.6x
Mon, 14 Aug 2023S$4.7bS$962.7mS$41.7m10.9x112.8x4.9x
Wed, 12 Jul 2023S$4.9bS$961.6mS$332.7m8.3x14.8x5.1x
Fri, 09 Jun 2023S$4.8bS$959.7mS$331.6m8x14.6x5x
Sun, 07 May 2023S$5.0bS$960.7mS$332.1m8.2x15.2x5.2x
Tue, 04 Apr 2023S$5.3bS$959.8mS$331.6m8.4x16.1x5.6x
Thu, 02 Mar 2023S$5.7bS$958.7mS$331.0m9.6x17.2x5.9x
Sat, 28 Jan 2023S$6.3bS$962.8mS$813.8m6.7x7.7x6.5x
Mon, 26 Dec 2022S$5.7bS$963.2mS$814.7m5.7x7x5.9x
Wed, 23 Nov 2022S$6.0bS$962.0mS$811.9m6.8x7.3x6.2x
Fri, 21 Oct 2022S$5.9bS$960.7mS$808.6m6.4x7.3x6.1x
Sun, 18 Sep 2022S$7.2bS$961.7mS$811.1m8.8x8.9x7.5x
Tue, 16 Aug 2022S$7.6bS$961.5mS$810.6m9.5x9.3x7.9x
Thu, 14 Jul 2022S$7.5bS$926.8mS$593.6m11.5x12.7x8.1x
Price to Earnings Ratio

12.7x


Total Market Cap: S$7.5bTotal Earnings: S$593.6mTotal Revenue: S$926.8mTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Office REITs Industry Price to Earnings3Y Average -13.1x202320242025
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 5.1x.
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 Market1.45%
Real Estate2.23%
REITS0.64%
Office REITs-0.78%
Industrial REITs1.26%
Hotel and Resort REITs1.08%
Diversified REITs0.64%
Specialized REITs0%0
Healthcare REITs0%0
Retail REITs-0.48%
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?

CompanyLast Price7D1YValuation
K71U Keppel REITS$0.890.6%
+S$19.4m
4.1%PB0.7x

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