Singapore-listed US office real estate investment trusts are expected to benefit from US President Donald Trump's executive order for federal employees to switch away from remote work, according to a report by the Straits Times on Tuesday.
On Jan. 20, Trump issued an executive order, instructing executive branch departments and agencies to end remote work and make it mandatory for employees to return to full time in-person work, the report said.
Shares of Keppel Pacfic OAK US REIT (SGX:CMOU), Manulife US REIT (SGX:BTOU) and Prime US REIT (SGX:OXMU) surged at the close of Jan. 24, the report noted.
UOB Kay Hian said that with Amazon, JPMorgan, Boeing and Tesla demanding employees to show physical presence five days a week, there is likely a need for more office space, the report added.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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