THIS ISSUE
Cover Story
Fe a t u r e
04
16 REITs’ Valuation Under Scrutiny
17 What Are The Issues With Valuation?
Asia Pacific REITs have come of age as an established
asset class after close to two decades of history. During
this period, management track records and certain
market practices have come under scrutiny.
Column
Asia’s REITs Likely to Maintain Dividends
Despite Worst Performance on Record
19
Concerns centred on how long the pandemic would last
Interview
09
KPMG: Valuation Is More Than Just
Rubber Stamping
Valuation is a necessary part of investing in real estate.
The opinion of a professional valuer is used to underpin
the acquisition of an asset, as well as inform ongoing
decision-making, financial reporting, and disposal. It is
fair to say that a significant level of risk is placed on the
shoulders of the valuer.
Elite REIT’s Covid-19 Impact Mitigated
by Advance Rent; Manager Remains
Positive
Market
22
As REITs globally brace for further fallout caused by the
Covid-19 pandemic, Elite Commercial REIT remains
optimistic that it can weather the downturn.
Outlook
14
Rent Implications as Covid-19 Fast-
Tracks The Future of Work
Covid-19 is forcing the world of work to move online. As
homes become offices, questions are asked: is part of this shift
permanent, and what are the repercussions on commercial
offices? Victor Yeung, the Chief Investment Officer of Admiral
Investment, discusses how Hong Kong businesses have moved
online and the implications for rents in suburban and city offices.
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信報書角
2
3
Covid-19 Aside, Philippines REIT
Issues Remain
Development of REITs in the Philippines has gained pace
in recent months. Conglomerate Ayala has applied to
be the country’s first and the float is expected to raise
roughly 15 billion pesos (US$294 million). While its plans
may be side-tracked by the pandemic, concerns remain
on whether the country’s REIT regime could see success.
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