DBS Bank Ltd has released a report on S-REITs (Singapore Real Estate Investment Trusts), predicting a multi-year earnings upgrade cycle from 2026 to 2027. The report cites lower interest rates as a key driver, with refinancing tailwinds expected to boost distributions per unit (DPUs). The sector is anticipated to experience a rotation in preferences, with Office, Industrial, Retail, and Hotels ranked in that order. Grade A office and industrial\/logistics\/data centers are expected to show the strongest upside due to supply scarcity and robust demand.<\/p>\n
The report notes that valuations remain attractive, with a price-to-book ratio of 0.9x and a forecasted yield of 5.7% for FY26F. This presents a 3.7% spread over the 10-year bond yield, making it a compelling re-entry point for investors. Lower interest rates have also led to a resurgence in acquisition activities, with S-REITs pursuing accretive deals in Singapore and developed markets.<\/p>\n
DBS Bank Ltd’s top picks for 2026 include CICT, MLT, CLAR, PREIT, and mid-cap names like LREIT, CAREIT, NTTDCR, and CLAS. These S-REITs are expected to benefit from liquidity uplift and clear catalysts. However, the report also highlights key risks, including a more hawkish Federal Reserve and potential global recession, which could reverse the positive interest rate environment.<\/p>\n
The report is positive on the sector outlook, citing historical data that shows positive 12-month returns for S-REITs at current valuation levels. Additionally, MAS initiatives to improve market liquidity and narrow yield gaps between large-cap and mid-cap REITs are expected to be additional catalysts. Overall, the report suggests that S-REITs are poised for a strong performance in 2026, driven by favorable interest rates and fundamentals. Clients of DBS Bank Ltd can access the full report on the bank’s website.<\/p>\n","protected":false},"excerpt":{"rendered":"
DBS Bank Ltd has released a report on S-REITs (Singapore Real Estate Investment Trusts), predicting a multi-year earnings upgrade cycle from 2026 to 2027. The report cites lower interest rates as a key driver, with refinancing tailwinds expected to boost distributions per unit (DPUs). The sector is anticipated to experience a rotation in preferences, with […]<\/p>\n","protected":false},"author":1,"featured_media":219543,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[64],"tags":[],"class_list":["post-222552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dbs"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/smallnews.in\/banking\/wp-content\/uploads\/sites\/4\/2025\/02\/DBS.jpg?fit=466%2C450&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p9pSib-VTy","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":222509,"url":"https:\/\/smallnews.in\/banking\/dbs\/crypto-com-teams-up-with-dbs-to-enhance-transaction-capabilities-for-singapore-users-supporting-both-sgd-and-usd-currencies\/","url_meta":{"origin":222552,"position":0},"title":"Crypto.com teams up with DBS to enhance transaction capabilities for Singapore users, supporting both SGD and USD currencies","author":"Team Small News","date":"December 18, 2025","format":false,"excerpt":"Crypto.com, a leading cryptocurrency platform, has announced an expansion of its partnership with DBS Bank, the largest bank in Southeast Asia. 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