EarningsShopper traffic and tenant sales at VivoCity rose by 1.8% and 4.8% yoy, respectively.
Financial PerformanceVivoCity remained the portfolio’s best performing asset, even as MPACT’s overseas operations continue to face challenges.
ValuationAttractively valued large cap REIT, with yields in excess of 6.0%, which is close to 1% higher spread vs large cap S-REITs.