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Singaporean (SGX) Office REITs Industry Analysis
UpdatedDec 27, 2025
DataAggregated Company Financials
Companies6
- 7D-1.6%
- 3M-2.0%
- 1Y10.9%
- YTDn/a
Over the last 7 days, the Office REITs industry has dropped 1.6%, driven by a pullback from Keppel REIT of 2.0%. In the past year, the industry has gained 11%. 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 |
|---|---|---|---|---|---|---|
| Sat, 27 Dec 2025 | S$5.2b | S$950.1m | -S$68,876,485.90 | 26.5x | -74.9x | 5.4x |
| Mon, 24 Nov 2025 | S$5.4b | S$949.6m | -S$68,943,556.06 | 27.2x | -78.8x | 5.7x |
| Wed, 22 Oct 2025 | S$5.3b | S$949.7m | -S$68,923,780.42 | 26.9x | -77.2x | 5.6x |
| Fri, 19 Sep 2025 | S$5.2b | S$950.2m | -S$68,863,826.17 | 26.6x | -75.5x | 5.5x |
| Sun, 17 Aug 2025 | S$4.8b | S$949.3m | -S$68,978,469.74 | 25.4x | -69.9x | 5.1x |
| Tue, 15 Jul 2025 | S$4.6b | S$978.8m | -S$44,506,450.37 | 28.3x | -103.5x | 4.7x |
| Thu, 12 Jun 2025 | S$4.5b | S$976.8m | -S$44,727,296.32 | 27.9x | -101x | 4.6x |
| Sat, 10 May 2025 | S$4.3b | S$976.0m | -S$44,822,110.19 | 24.1x | -96.1x | 4.4x |
| Mon, 07 Apr 2025 | S$4.3b | S$977.2m | -S$44,687,646.22 | 23.9x | -97.3x | 4.5x |
| Wed, 05 Mar 2025 | S$4.1b | S$972.5m | -S$45,216,938.86 | 25.7x | -91.5x | 4.3x |
| Fri, 31 Jan 2025 | S$4.5b | S$1.0b | -S$362,552,644.44 | 33.4x | -12.4x | 4.4x |
| Sun, 29 Dec 2024 | S$4.5b | S$995.1m | -S$339,389,639.63 | 27x | -13.2x | 4.5x |
| Tue, 26 Nov 2024 | S$4.5b | S$994.8m | -S$338,989,174.13 | 26.9x | -13.2x | 4.5x |
| Thu, 24 Oct 2024 | S$4.8b | S$995.7m | -S$340,050,968.68 | 28.3x | -14x | 4.8x |
| Sat, 21 Sep 2024 | S$5.0b | S$997.0m | -S$341,647,860.17 | 29.7x | -14.7x | 5x |
| Mon, 19 Aug 2024 | S$4.4b | S$997.6m | -S$342,363,586.73 | 26.1x | -12.7x | 4.4x |
| Wed, 17 Jul 2024 | S$4.4b | S$995.8m | -S$571,351,112.74 | 20x | -7.7x | 4.4x |
| Fri, 14 Jun 2024 | S$4.2b | S$995.3m | -S$570,570,831.66 | 19.1x | -7.4x | 4.3x |
| Sun, 12 May 2024 | S$4.3b | S$995.5m | -S$570,801,223.81 | 19.7x | -7.6x | 4.3x |
| Tue, 09 Apr 2024 | S$4.4b | S$995.6m | -S$571,004,960.66 | 20.1x | -7.8x | 4.5x |
| Thu, 07 Mar 2024 | S$4.2b | S$891.6m | -S$570,728,448.68 | 19.3x | -7.4x | 4.7x |
| Sat, 03 Feb 2024 | S$4.8b | S$872.2m | -S$372,317,440.00 | 14.7x | -12.9x | 5.5x |
| Mon, 01 Jan 2024 | S$5.0b | S$960.3m | -S$267,774,584.00 | 12.8x | -18.7x | 5.2x |
| Wed, 29 Nov 2023 | S$4.5b | S$960.7m | -S$268,005,579.00 | 10.5x | -16.9x | 4.7x |
| Fri, 27 Oct 2023 | S$4.0b | S$959.6m | -S$267,334,605.00 | 8.9x | -14.9x | 4.1x |
| Sun, 24 Sep 2023 | S$4.4b | S$960.2m | -S$267,678,308.00 | 9.6x | -16.4x | 4.6x |
| Tue, 22 Aug 2023 | S$4.6b | S$961.5m | -S$268,524,324.00 | 10.5x | -17x | 4.7x |
| Thu, 20 Jul 2023 | S$4.8b | S$962.3m | S$333.1m | 8.5x | 14.5x | 5x |
| Sat, 17 Jun 2023 | S$5.0b | S$960.8m | S$332.2m | 8.4x | 14.9x | 5.2x |
| Mon, 15 May 2023 | S$4.8b | S$960.1m | S$331.8m | 8x | 14.5x | 5x |
| Wed, 12 Apr 2023 | S$5.2b | S$960.2m | S$331.9m | 8.4x | 15.7x | 5.4x |
| Fri, 10 Mar 2023 | S$5.5b | S$958.7m | S$331.0m | 9.8x | 16.6x | 5.7x |
| Sun, 05 Feb 2023 | S$6.4b | S$950.4m | S$864.7m | 8.2x | 7.4x | 6.7x |
| Tue, 03 Jan 2023 | S$5.7b | S$962.9m | S$814.2m | 5.6x | 7x | 5.9x |
Price to Earnings Ratio
7x
Current Industry PE
- Investors are optimistic on the Singaporean Office REITs industry, and appear confident in long term growth rates.
- The 3-year average PS ratio of 4.9x is lower than the industry's current PS ratio of 5.4x.
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 | 1.19% | |
| Real Estate | 0.27% | |
| REITS | 0.26% | |
| Office REITs | -1.57% | |
| Retail REITs | 0.54% | |
| Industrial REITs | 0.52% | |
| Healthcare REITs | 0.41% | |
| Hotel and Resort REITs | 0.30% | |
| Diversified REITs | 0.26% | |
| Residential REITs | 0% | 0 |
| 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 | |
|---|---|---|---|---|---|
| MXNU Elite UK REIT | UK£0.36 | 1.4% +UK£3.1m | 24.1% | PB0.9x |