Ten years is a long time in investing.
There will probably be recessions, interest-rate changes and property market downturns along the way. There could also be a few surprises.
So if I am going to hold a real estate investment trust (REIT) until 2036, today’s yield is not enough for me.
I want to see quality assets, healthy occupancy and the ability to raise rents.
A strong balance sheet also matters.
So does management and its ability to find sensible ways to grow the portfolio.
Here are three Singapore REITs I would consider buying today and holding for the next 10 years.
What Makes a REIT Worth Holding for 10 Years?
For a 10-year holding period, I would look beyond the distribution yield.
I want quality assets, healthy occupancy and positive rental reversions.
A sustainable distribution per unit (DPU) and manageable debt also matter.
I would also look at the sponsor and management, whether there is a good track record of growing the portfolio without taking on too much risk.
For me, durability and DPU growth matter more than today’s headline yield.
CapitaLand Integrated Commercial Trust (SGX: C38U)– The Defensive Income Anchor
CapitaLand Integrated Commercial Trust (CICT) is my defensive pick of the three.
Its DPU rose 7.1% year on year (YoY) to $0.0602 in 1H2026.
The portfolio occupancy was 95.6%, and CICT achieved positive rental reversions of 4.0% for retail and 6.5% for office.
Aggregate leverage stood at 37.4%.
At around a 5% annualised distribution yield, CICT is not the highest-yielding REIT around.
But that is not really the point.
I like the combination of growing income, positive rental growth and a balance sheet that gives the trust room to keep investing.
For a 10-year holding period, that is the kind of foundation I would want.
CapitaLand Ascendas REIT (SGX: A17U) – The Structural Growth REIT
CapitaLand Ascendas REIT or CLAR would be my structural growth pick.
Its distribution per unit (DPU) remained stable at S$0.07482 in 1H2026, while distributable income rose 8.6% YoY to S$359.4 million.
What interests me is how much the portfolio has grown.
Its portfolio had a weighted average lease expiry (WALE) of 4.0 years, while occupancy stood at 89.1% as at 30 June 2026.
CLAR also has a strong sponsor in CapitaLand Investment, with opportunities to grow through acquisitions and developments.
At around a 6% annualised distribution yield, CLAR offers both income today and room for growth over the next decade.
Mapletree Logistics Trust (SGX: M44U) – The Diversified Compounder
Mapletree Logistics Trust, or MLT, would be my diversified compounder pick.
Its portfolio spans 175 properties across nine Asia-Pacific markets, giving it exposure to different economies and tenant groups.
Its DPU rose 0.2% YoY to S$0.01816 in 1QFY2026/27.
I also like the diversification – weakness in one market would not necessarily affect the whole portfolio.
MLT has continued to recycle capital through acquisitions and divestments.
For a 10-year holding period, that gives MLT several ways to improve its portfolio and grow its income over time.
Why I Wouldn’t Simply Pick the Three Highest-Yielding REITs
A 9% yield may look attractive today, but if DPU keeps falling, that income may not last.
A high yield can also be a warning sign.
It could reflect concerns about the REIT’s debt, properties or future distributions.
I would rather own a REIT with a moderate yield that can grow its DPU over time.
This is where yield on cost becomes useful.
If a REIT keeps raising its DPU, the yield on your original purchase price can become much higher over the years.
For a 10-year investment, I would look at where the distribution could be in 2036, not just what it pays today.
The Numbers I Would Check Every Year
Keep an eye on DPU, rental reversions and occupancy.
Investors should also monitor a REIT’s leverage, interest coverage and cost of debt.
These metrics can give indications if the balance sheet is still in good shape.
Finally, also look at NAV per unit and any acquisitions, divestments or AEIs.
Buying and holding does not mean buying and forgetting.
What Would Make Me Sell Before the 10 Years Are Up?
I would not sell just because the market has had a bad year.
But a persistent fall in DPU would make me look closer, especially if the problem is structural.
Investors should also rethink the investment if leverage gets too high, asset quality starts to deteriorate or management makes poor acquisitions.
Repeated equity fundraising that hurts existing unitholders would also be a concern.
The 10-year period is not set in stone.
I would sell if the investment thesis no longer holds.
Get Smart: Think in Decades, Not Distribution Cycles
A high yield today does not guarantee strong income 10 years from now.
Instead, keep your eyes on the properties, rental growth and balance sheet.
Management also needs to make sensible decisions with the capital it has.
Get those things right, and the income you receive today could look very different 10 years from now.
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Disclosure: Darien C. does not own shares in any of the companies mentioned.
