Suntec Reit flags near-term pressure on convention business as bookings slow in wake of Iran war

Suntec Reit anticipates near-term challenges for its convention business due to slower booking momentum at the Suntec Singapore Convention and Exhibition Centre. The global uncertainty, particularly following the Iran war, has led corporates to adopt a cautious approach, resulting in slower confirmations for events. While there have been no immediate cancellations, the manager noted potential long-term impacts, including increased costs for event organizers and delegates, which may further affect demand for MICE activities.