Daily Briefing: WeWork's woes may spell trouble for office REITs; Over 900,000 HDB households to receive GST Voucher rebate

And two shop units have been put up for sale via EOI at $8.8m.

From Bloomberg:

Concerns about WeWork’s withdrawal of its planned initial public offering (IPO) may worsen the impact of a weakening economy on Singapore’s commercial REITs, according to Credit Suisse Group AG.

Poor sentiment on the company could further damp demand for co-working spaces amid slowing gross domestic product growth, hurting office REITs, analysts led by Nicholas Teh wrote in a report.

“Office REITs have mentioned in recent briefings that corporate demand has slowed, while the narrow drivers are tech and co-working,” the analysts wrote. “There are growing market concerns around the sustainability of co-working demand, going forward.”

WeWork this week withdrew its planned IPO amidst difficulties with its fundraising. The company has also been rattled by the departure of its chief executive officer and market concerns over demand.

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