Starhill Global REIT is arguably the more interesting value play because of its deep discount, but a cheap valuation needs a catalyst before that gap necessarily closes. Suntec REIT could benefit from Singapore's MICE recovery, although its office exposure and financing costs add more uncertainty.
My ranking: CICT > Starhill > Suntec. I prefer CICT's combination of quality assets, diversification and earnings visibility, while Starhill would be the higher-risk re-rating opportunity.
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