Suntec Reit rules out retail acquisitions in Australia, will focus on divestments

The manager of Suntec Real Estate Investment Trust (Suntec Reit) has ruled out acquiring retail assets in Australia, even as its peer, Keppel Reit, recently made its first retail investment there.

Earlier this month, Keppel Reit acquired its first retail mall in Australia, expanding beyond its traditional focus as a pure-play office Reit.

But the chief executive officer of the Reit manager of Suntec Reit, Chong Kee Hiong, said that such a move is not on its cards.