Stock Digest - UOA Real Estate Investment Trust - Occupancy Rate Still Below Pre-pandemic Level

Slow recovery in occupancy towards pre-pandemic level. Portfolio occupancy rate stood at 80.7% as at 1Q23. We expect a slow and gradual recovery in the portfolio occupancy rate towards the pre-pandemic level (91.5% in FY19) amidst widening supply-demand gap of office space as more organisations continued to re-evaluate their workplace strategies even after WHO has declared that Covid-19 has ended.

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