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Ring the bell: Could Singapore be a victim of its own S-Reit success?

What’s in the pipeline of new Reit listings is a welcome sign. But SGX’s deeper challenge is far harder to solve

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Jude Chan

Jude Chan

Published Thu, Mar 26, 2026 · 07:00 AM
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    • As at end-2025, Singapore’s 41 Reits and property trusts had a combined market capitalisation of S$104 billion, representing nearly 10% of the stock market.
    • As at end-2025, Singapore’s 41 Reits and property trusts had a combined market capitalisation of S$104 billion, representing nearly 10% of the stock market. PHOTO: TAY CHU YI, BT

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    CALL it a Singapore-listed real estate investment trust (S-Reit) renaissance, if you like.

    But it is starting to feel a bit like Groundhog Day in the local equity market – another quarter, another Reit initial public offering (IPO) either launching, testing the waters, or just swirling in the rumour mill.

    Just two weeks ago, the Singapore Exchange (SGX) welcomed logistics, industrial and business space player UI Boustead Reit to the mainboard. It raised about $973.6 million, in what was Singapore’s biggest IPO so far this year.

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