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Singaporean (SGX) Office REITs Industry Analysis
UpdatedDec 24, 2025
DataAggregated Company Financials
Companies6
- 7D0.3%
- 3M-2.5%
- 1Y11.4%
- YTDn/a
Last week, the Office REITs industry hasn't moved much but Keppel Pacific Oak US REIT is up 4.3% in that time. As for the the longer term, the industry is up 13% over the past 12 months. Earnings are forecast to grow by 17% annually.
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 |
|---|---|---|---|---|---|---|
| Wed, 24 Dec 2025 | S$5.2b | S$950.3m | -S$68,845,229.09 | 26.4x | -75.1x | 5.4x |
| Fri, 21 Nov 2025 | S$5.5b | S$949.6m | -S$68,938,521.37 | 27.4x | -79.2x | 5.8x |
| Sun, 19 Oct 2025 | S$5.1b | S$950.0m | -S$68,889,648.76 | 26.5x | -74.3x | 5.4x |
| Tue, 16 Sep 2025 | S$5.3b | S$949.6m | -S$68,934,058.21 | 26.9x | -76.6x | 5.6x |
| Thu, 14 Aug 2025 | S$4.8b | S$975.6m | -S$4,557,950.24 | 25.9x | -1060.8x | 5x |
| Sat, 12 Jul 2025 | S$4.6b | S$979.0m | -S$44,480,912.64 | 28.4x | -102.8x | 4.7x |
| Mon, 09 Jun 2025 | S$4.4b | S$976.7m | -S$44,747,020.36 | 27.2x | -99.3x | 4.6x |
| Wed, 07 May 2025 | S$4.3b | S$976.0m | -S$44,821,983.56 | 24.1x | -96.1x | 4.4x |
| Fri, 04 Apr 2025 | S$4.4b | S$977.4m | -S$44,665,359.06 | 24.8x | -99x | 4.5x |
| Sun, 02 Mar 2025 | S$4.1b | S$971.6m | -S$45,326,059.47 | 25.9x | -91.2x | 4.3x |
| Tue, 28 Jan 2025 | S$4.5b | S$994.8m | -S$339,032,247.94 | 26.9x | -13.2x | 4.5x |
| Thu, 26 Dec 2024 | S$4.5b | S$994.4m | -S$338,530,316.90 | 26.9x | -13.2x | 4.5x |
| Sat, 23 Nov 2024 | S$4.5b | S$994.2m | -S$338,262,220.34 | 26.6x | -13.2x | 4.5x |
| Mon, 21 Oct 2024 | S$4.9b | S$995.7m | -S$340,018,816.55 | 29.3x | -14.4x | 4.9x |
| Wed, 18 Sep 2024 | S$5.1b | S$996.9m | -S$341,489,431.29 | 30.4x | -14.9x | 5.1x |
| Fri, 16 Aug 2024 | S$4.4b | S$985.7m | -S$368,081,865.62 | 26.1x | -11.9x | 4.4x |
| Sun, 14 Jul 2024 | S$4.4b | S$995.7m | -S$571,136,474.99 | 20.2x | -7.7x | 4.4x |
| Tue, 11 Jun 2024 | S$4.3b | S$995.1m | -S$570,168,034.74 | 19.3x | -7.5x | 4.3x |
| Thu, 09 May 2024 | S$4.3b | S$995.4m | -S$570,643,546.31 | 19.7x | -7.6x | 4.3x |
| Sat, 06 Apr 2024 | S$4.5b | S$995.5m | -S$570,905,935.77 | 20.1x | -7.8x | 4.5x |
| Mon, 04 Mar 2024 | S$4.3b | S$891.5m | -S$570,524,948.57 | 19.5x | -7.5x | 4.8x |
| Wed, 31 Jan 2024 | S$4.8b | S$872.1m | -S$381,760,390.00 | 15.9x | -12.7x | 5.5x |
| Fri, 29 Dec 2023 | S$5.0b | S$960.7m | -S$268,027,610.00 | 12.9x | -18.8x | 5.3x |
| Sun, 26 Nov 2023 | S$4.6b | S$960.9m | -S$268,117,903.00 | 10.8x | -17.1x | 4.8x |
| Tue, 24 Oct 2023 | S$4.0b | S$960.2m | -S$267,714,269.00 | 9.1x | -15.1x | 4.2x |
| Thu, 21 Sep 2023 | S$4.5b | S$960.5m | -S$267,846,830.00 | 9.8x | -16.7x | 4.7x |
| Sat, 19 Aug 2023 | S$4.6b | S$961.5m | -S$268,466,139.00 | 10.5x | -17x | 4.7x |
| Mon, 17 Jul 2023 | S$5.0b | S$962.1m | S$333.0m | 8.6x | 15.1x | 5.2x |
| Wed, 14 Jun 2023 | S$4.8b | S$959.8m | S$331.6m | 8.1x | 14.5x | 5x |
| Fri, 12 May 2023 | S$4.8b | S$960.1m | S$331.8m | 8.1x | 14.6x | 5x |
| Sun, 09 Apr 2023 | S$5.3b | S$960.2m | S$331.9m | 8.4x | 16.1x | 5.6x |
| Tue, 07 Mar 2023 | S$5.6b | S$958.9m | S$331.1m | 9.8x | 16.8x | 5.8x |
| Thu, 02 Feb 2023 | S$6.3b | S$949.5m | S$906.3m | 6.7x | 6.9x | 6.6x |
| Sat, 31 Dec 2022 | 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 5.5x.
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 | 1.18% | |
| Real Estate | 1.13% | |
| REITS | 0.81% | |
| Office REITs | 0.31% | |
| Diversified REITs | 0.81% | |
| Hotel and Resort REITs | 0.68% | |
| Industrial REITs | 0.43% | |
| Retail REITs | 0.087% | |
| Residential REITs | 0% | 0 |
| Specialized REITs | 0% | 0 |
| Healthcare REITs | -0.41% | |
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 | |
|---|---|---|---|---|---|
| CMOU Keppel Pacific Oak US REIT | US$0.24 | 4.3% +US$10.4m | 14.3% | PB0.3x | |
| UD1U IREIT Global | S$0.29 | 1.8% +S$6.7m | 3.6% | PB0.5x | |
| OXMU Prime US REIT | US$0.20 | 0.5% +US$1.4m | 13.2% | PB0.4x |