【出版时间及名称】：2010年2月新加坡商业地产行业研究报告
        【作者】：野村证券
        【文件格式】：PDF
        【页数】：56
        【目录或简介】：
Contents
Executive summary 3
A comparable valuation footing 4
Rent slide slowing, as demand recovers 6
Net demand recovering amid stabilising job outlook 6
Employment/job outlook 7
New leasing deals 8
Lower rents, lease cycle prompts 2010 relocations/pre-commitments 10
Cheaper rents/contiguous space to prompt relocation 10
Lease cycle — seizing cost savings 11
Occupancy risks remain given supply 14
Sensitivity of DPU/earnings to higher office vacancy 15
Valuations: values still not stretched 18
Office capital values — stabilising 18
Enterprise values highlight value still remains 18
Top picks — Keppel Land, CCT and K-REIT 19
Latest company views
CapitaCommercial Trust 20
Frasers Commercial Trust 25
K-REIT Asia 29
Suntec REIT 34
Keppel Land 39
Singapore Land 48