Singapore Property Firms Face Setback as Workers Stay Home
- Some REITs have fallen as remote work rules are extended
- Work from home remains default arrangement during pandemic
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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 have fallen since authorities announced last month that working from home will remain the default arrangement. The government is trying to minimize the risk of transmission at offices after some cases in the workplace led to community clusters.