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Singapore property firms face setback as workers stay at home
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The move adds to headwinds for developers and Reits, amid questions over what the future holds for offices worldwide even after the pandemic.
PHOTO: MAPLETREE COMMERCIAL TRUST
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SINGAPORE (BLOOMBERG) - Singapore's battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state.
Shares of commercial developers and real estate investment trusts (Reits) have fallen since authorities announced last month that working from home will remain the default arrangement. The government is trying to minimise the risk of transmission at offices after some cases in the workplace led to community clusters.
