Singaporean Real Estate Potentially Undervalued Companies

Sasseur Real Estate Investment Trust

Market Cap: S$788.0m

Invests in a portfolio of real estate and related assets.

Digital Core REIT

Market Cap: US$649.3m

Digital Core REIT (SGX: DCRU) is a leading pure-play data centre REIT listed in Singapore and sponsored by Digital Realty (NYSE: DLR), the largest global data centre owner and operator.

Daiwa House Logistics Trust

Market Cap: S$395.2m

Daiwa House Logistics Trust (“DHLT”) is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing in a portfolio of income-producing logistics and industrial real estate assets located across Asia.

Keppel Pacific Oak US REIT

Market Cap: US$193.2m

Keppel Pacific Oak US REIT (KORE) is a distinctive office REIT listed on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST) on 9 November 2017.

United Hampshire US Real Estate Investment Trust

Market Cap: US$259.6m

Listed on the Main Board of the Singapore Exchange on 12 March 2020, UHREIT is a Singapore real estate investment trust established with the principal investment strategy of investing in a diversified portfolio of stabilised income-producing (i) grocery-anchored and necessity-based retail properties (“Grocery & Necessity Properties”), and (ii) modern, climate-controlled self-storage facilities (“Self-Storage Properties”), located in the U.S.

OUE Real Estate Investment Trust

Market Cap: S$1.6b

OUE Real Estate Investment Trust ("OUE REIT"), formerly known as OUE Commercial Real Estate Investment Trust, is one of the largest diversified Singapore REITs ("S-REITs") with total assets under management of S$5.8 billion as of 31 December 2024.

Manulife US Real Estate Investment Trust

Market Cap: US$108.4m

Manulife US Real Estate Investment Trust (“Manulife US REIT” or “MUST”) is the first pure-play U.S.

ESR-REIT

Market Cap: S$1.9b

A leading New Economy and future-ready Asia Pacific S-REIT.

Elite UK REIT

Market Cap: UK£193.8m

Operates as a real estate investment trust.

CapitaLand China Trust

Market Cap: S$1.2b

CapitaLand China Trust (CLCT) is Singapore’s largest China-focused real estate investment trust (REIT).

Mapletree Industrial Trust

Market Cap: S$5.6b

A real estate investment trust (“REIT”) listed on the Main Board of Singapore Exchange.

Lippo Malls Indonesia Retail Trust

Market Cap: S$107.8m

LMIR Trust is a Singapore-based real estate investment trust established with the principal investment objective of owning and investing, on a long-term basis, in a diversified portfolio of income-producing real estate in Indonesia that are primarily used for retail and/or retail-related purposes.

CapitaLand Ascendas REIT

Market Cap: S$12.2b

CapitaLand Ascendas REIT (CLAR) is Singapore’s first and largest listed business space and industrial real estate investment trust.

Acrophyte Hospitality Trust

Market Cap: US$179.8m

Listed on the Singapore Exchange on 9 May 2019, Acrophyte Hospitality Trust (“ACRO-HT”) is a hospitality stapled group comprising Acrophyte Hospitality Property Trust and Acrophyte Hospitality Management Trust.

Mapletree Pan Asia Commercial Trust

Market Cap: S$6.5b

Mapletree Pan Asia Commercial Trust (“MPACT”) is a real estate investment trust (“REIT”) positioned to be the proxy to key gateway markets of Asia.

First Real Estate Investment Trust

Market Cap: S$557.3m

First Real Estate Investment Trust (“First REIT” or the “Trust”), is a healthcare real estate investment trust focused on investing in diverse yield-accretive healthcare and healthcare-related real estate assets within and outside of Asia.

EC World Real Estate Investment Trust

Market Cap: S$226.8m

Listed on 28 July 2016, EC World REIT is the first Chinese specialised logistics and e-commerce logistics REIT listed on Singapore Exchange Securities Trading Limited ("SGX-ST").

Far East Hospitality Trust

Market Cap: S$1.1b

Far East H-Trust is a Singapore-Focused Hotel and Serviced Residence Hospitality Trust listed on the Main Board of The Singapore Exchange Securities Trading Limited (“SGX-ST”).

Stoneweg Europe Stapled Trust

Market Cap: €880.4m

Stoneweg European Real Estate Investment Trust (“SERT”) has a principal mandate to invest, directly or indirectly, in income producing commercial real estate assets across Europe with a minimum portfolio weighting of at least 75% to Western Europe and at least 75% to the logistics / light industrial and office sectors.

Keppel DC REIT

Market Cap: S$5.3b

Keppel DC REIT was listed on the Singapore Exchange on 12 December 2014 as the first pure-play data centre REIT in Asia.

CapitaLand Integrated Commercial Trust

Market Cap: S$15.9b

CapitaLand Integrated Commercial Trust (CICT) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalisation of S$14.1 billion as at 31 December 2024.

Prime US REIT

Market Cap: US$187.1m

Listed on 19 July 2019 on the Main Board of the Singapore Exchange, Prime US REIT (“PRIME”) is a well-diversified real estate investment trust ("REIT") focused on stabilised income-producing office assets in the United States ("U.S.").