Singapore REITs Business Updates For 3rd Quarter 2025

Daniel Lee
13 minutes ago
3 min read

Here is the summary of the REITs that have reported their earnings or business updates for the third quarter of 2025.

You can skip to the respective type REITs that you are interested in:

Healthcare REIT
Hospitality REIT
Retail REIT
Office & Commercial REIT
Industrial REIT

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Healthcare REITs

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Hospitality REITs

Japan RevPAU continues to experience positive growth
Singapore RevPAU for the first 3 quarters experienced a dip at the back of lesser global event but uplift expected in 4Q. As of 2025, inbound tourism volume has yet reached pre-covid levels.

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Retail REITs

Retail performance and sales in hongkong remained strong in Q3 2025.
Retail performance and sales in China remained resilient in Q3 2025. This is expected to continue as the Chinese government continues to focus on boosting consumer spending via their policies.
Retail performance and sales in Singapore ramined strong in Q3 2025. Rent reversions remain positive.
Retail performance of strip malls in United States remained resilient with slightly higher foot fall and a tight supply environment.

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Office & Commercial REITs

Singapore’s business park sector is likely to remain a two-tier market, with prime business parks in better locations achieving stronger rents and occupancy levels compared to older assets outside the Central Region.
According to CBRE, Singapore’s office market extended its upward trajectory in 3Q 2025, with Core CBD (Grade A) rents rising by 0.8% QoQ to S$12.20 psf per month. This growth was underpinned by resilient occupier demand, the ongoing flight-to-quality trend, and a tightening supply pipeline. Vacancy in the Core CBD (Grade A) segment improved further, easing from 5.3% in 2Q 2025 to 5.1% in 3Q 2025
China’s overall business park / office occupancy rate improved slightlym though the market remains fragmented and dampen (Occupancy rate around 70-80%). While actions are taken on the governmental level, the recovery of business confidence would still take some time with a lag expected before the effects are fully felt.
US commercial space supply – demand dynamics are improving driven by back to office policy and resilient job market coupled with a shrinking supply.

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Industrial REITs

For Singapore industrial, CBRE Research anticipates a potential rebound in prime logistics rent in 2H 2025, despite a 2.1% year-on-year decline in 1H 2025, underscoring active demand for quality logistics space5.
China industrial continues to experience negative rental reversion though the rate has decelerated as compared to the previous quarter.
Data centre fundamentals tightened further in the third quarter of 2025, as the explosive growth of artificial intelligence workloads continues to drive robust data centre demand, while constraints are emerging at multiple points along the supply chain, including longer equipment lead-times and greater scarcity of skilled labor in addition to the existing constraints on the availability of power.

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Daniel is a Licensed Independent Financial Consultant with MAS and a Certified Financial Planner (CFP®).

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