SG Property Intelligence Real Estate saw net institutional inflows of S$48.9m in the week of 4 May

Research evidence excerpt

SG Property Intelligence Real Estate saw net institutional inflows of S$48.9m in the week of 4 May

J P M O R G A N Asia Pacific Equity Research

14 May 2026

SG Property Intelligence

Real Estate saw net institutional inflows of S$48.9m in

the week of 4 May

Singapore/ASEAN Property and

REITs

Real Estate saw net institutional inflows of S$48.9m in the week of 4 May (27 Apr: AC Terence M Khi

+7.9m), while S-REITs saw net institutional outflows of S$79.5m (27 Apr: -S$30.6m)

(65) 6882-1518

over the same period. Within real estate, fund managers and S-REITs, top institutional terence.ml.khi@jpmorgan.com

net buys included HKL (S$50.1m) and KEP (S$15.7m), while top institutional net AC Mervin Song, CFA

sells included CICT (-S$39.5m), CLI (-S$19.3m) and KREIT (-S$14.9m). (Source: (65) 6882-7829

SGX) mervin.song@jpmorgan.com

J.P. Morgan Securities Singapore Private Limited/

Companies J.P.MorganMorganBrokingSecurities(Hong (AsiaKong)Pacific)LimitedLimited/ J.P.

Sunway REIT – Robust start to the year. 1Q26 gross DPU rose 10.4% YoY to 3.18

Mcts, driven mainly by a 4.6% YoY increase in NPI and interest cost savings. Results

were in line with our and Bloomberg consensus expectations. The core retail portfolio

continues to perform well, supported by a 6% YoY increase in 1Q26 tenant sales and

strong contribution from Sunway Carnival following its AEI. With guidance for

continued mid-single-digit retail rental reversions, the outlook for Sunway REIT

remains positive. We maintain OW. Management also noted foreign investor

ownership increased by 1.7ppt to 13.2%, which should ease concerns around foreign

selling linked to higher withholding taxes (link). Link (Source: J.P. Morgan)

SingPost has reversed its earlier plan to divest SingPost Centre (valued previously