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Singapore landlords need a post Covid-19 remake, Property News & Top Stories

Jun 05, 2020 | 🚀 Fathership
SINGAPORE - Every third dollar changing hands on Singapore Exchange is because of someone buying or selling units in a real estate investment trust.

Struggling tenants became upset, so Singapore passed a law in April, ordering commercial owners, including Reits, to pass on tax remissions unconditionally and give a moratorium on rent payment if any merchant requests it.

Can the template be copied? Large Singapore landlords like CapitaLand Mall Trust have come to the business from real estate, unlike Sasseur Reit founder, Vito Xu, who drifted into property ownership after introducing high-end European fashion to Tier two Chinese cities, starting in his hometown of Chongqing.

Singapore landlords typically have three-year contracts, the time a supermarket anchor tenant needs to stabilise footfall.

In the post-pandemic world, Singapore Reits could more deftly stretch their profits if they stop singing from the hymn book of cutthroat capitalism and embrace a more trusting relationship with tenants.