0222 GMT - Lendlease Global Commercial REIT's strategy is focusing on Singapore, UOB Kay Hian's Jonathan Koh says in a research report. 87% of the REIT's portfolio valuation is in Singapore, and the REIT has competitive advantage via good asset quality, the analyst notes. Also, entertainment company Live Nation is expected to launch a music hall at Grange Road Car Park in Singapore, in partnership with the REIT. The music hall, which is slated to be completed in 2H 2026, would attract concert-goers, boosting shopper traffic at the REIT's 313@Somerset mall. The brokerage maintains the trust's buy rating, but trims the target price to S$0.79 from S$0.80 based on dividend discount model. Units are unchanged at S$0.56. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
August 12, 2025 22:22 ET (02:22 GMT)
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