Suntec Reit rules out retail acquisitions in Australia; to focus on divestments

[SINGAPORE] 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 Chong Kee Hiong, chief executive officer of the Reit manager, said that such a move is not on the cards for Suntec Reit.