Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220371
Title: GREENNESS OF PORTFOLIO AND FINANCIAL PERFORMANCE OF S-REITS
Authors: CHEN BOCHUAN AARON
Keywords: Real Estate
Seah Kiat Ying
2013/2014 RE
Real Estate Investment Trusts
BCA Green Mark
Leverage
RE
REITs
Issue Date: 2-May-2014
Citation: CHEN BOCHUAN AARON (2014-05-02). GREENNESS OF PORTFOLIO AND FINANCIAL PERFORMANCE OF S-REITS. ScholarBank@NUS Repository.
Abstract: This study aims to use Singapore Real Estate Investment Trusts (S-REITs) to assess the overall impact of Green Mark–rated buildings on investment property portfolio financial performance. Furthermore, the study will evaluate the impact of properties with different levels of greenness on financial performance at the portfolio level. The empirical findings are generally in line with expectations that investment in green buildings does lead to enhanced portfolio financial performance in S-REITs. However, the impacts on portfolio financial performances differ significantly between individual Green Mark rating categories. Green Mark Certified–rated properties provide the largest benefit to both financial measures, followed by Green Mark Gold–rated properties. Contrary to expectations, the findings suggest that premium Green Mark–rated buildings (Gold Plus and Platinum) may have a negative effect on financial performance in SREITs. It was also found that S-REITs that use less debt, benefit significantly less than those that use more debt suggesting that the additional costs of green properties could exceed the benefits at the portfolio level if it is funded by sources of funds other than debt.
URI: https://scholarbank.nus.edu.sg/handle/10635/220371
Appears in Collections:Bachelor's Theses

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