MARKET and two other freehold office assets in Milan . Lendlease Global Commercial REIT listed units climbed 44.08 % in 2020 . Keppel DC REIT , which operates and owns data centres , was in third place with a 40.77 % increase in the year .
Korea ’ s economy also bolstered the performance of Lotte REIT , which grew 39.37 % while Taiwan ’ s Fubon No 2 REIT gained 35.6 % during the period .
Retail and Hospitality REITs Performed Worst In Asia Pacific In 2020
The worst performers in the Asia Pacific REIT sector in 2020 were largely in the retail and hospitality sector .
Although , First REIT — the worst performing REIT — is in the healthcare sector . It posted a 74.12 % decline compared to 2019 .
First REIT is restructuring its 11 master lease agreements ( MLA ) with Lippo Karawachi ( LK ), which risks defaulting on its obligations . In FY2019 , the 11 MLAs constituted about 72 % of First REIT ’ s rental income . LK is an Indonesian-based homebuilder and the global economic slowdown as well as the weakness in
Source : Global Property Research
Rupiah has affected its performance .
Australia ’ s US Masters Residential Property Fund was the second worst-performer with a 69.72 % decline in performance .
This is followed by Indonesia ’ s Lippo Malls Indonesia Retail Trust , which fell 66.88 % in the year . Singapore ’ s ARA Hospitality Trust and Japan ’ s Ichigo Hotel REIT Investment Corp both posted a 46.61 % decline during the period .
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