Retail sales in Singapore continued to grow in October 2022, and retail sales grew by10.4%year-on-year in October. Total retail sales in October were estimated at S$4 billion, with online retail sales accounting for an estimated 13.0%.
The 7 S-Reits listed on the Singapore Exchange have significant exposure to retail assets in Singapore: 1. CapitaLand Integrated Commercial Trust
2. Frasers Centrepoint Trust
3. Lendlease Global Commercial Reit
4. Mapletree Pan Asia Commercial Trust
5. SPH Reit
6. Starhill Global Reit
7. Suntec Reit
In its latest business update and financial results, S-Reits continued to deliver a strong operational recovery in shopper traffic and tenant sales. In terms of price performance, the top three best performers year-to-date for the quarter ended were$CapLand IntCom T (C38U.SG)$+6.3%),$PARAGONREIT (SK6U.SG)$(+1.1%) andSinging Lion Real Estate Trust(+1.1%). Note: data as of Dec 15, 2022
CapitaLand Integrated Commercial Trust$CapLand IntCom T (C38U.SG)$reported a 21.3% year-over-year increase in tenant sales and a 21.9% year-over-year increase in shopper traffic in September 2022. The leisure and entertainment trade category grew 124.4% year-over-year.
Reit noted that leasing activity started to pick up in the third quarter of 2022, with demand mainly driven by food and beverage operators. For the full year of FY2022,SPH Reit$Suburban Propane (SPH.US)$'s total portfolio revenue grew 1.7% year-on-year to S$281.9 million, while net property income (NPI) grew 3.5% year-on-year to S$209.7 million. Retail tenant sales for its Singapore portfolio grew by 8.8% year-on-year and traffic grew by 15.9% year-on-year.
Frasers Centrepoint Trust$Frasers Cpt Tr (J69U.SG)$also announced its full-year financial results for fiscal 2022 in October, noting that total revenue for the year increased 4.6% year-over-year and NPI increased 4.9% year-over-year. Its portfolio shopper traffic recovered 12.4% year-over-year, while tenant sales increased 11.3% year-over-year, averaging 10% above Covid's prior levels.
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