AIMS APAC REIT FY2026 NPI climbs 5.7%, DPU up to 9.850 cents

Income growth was supported by rental reversions and stable occupancy.

AIMS APAC REIT reported net property income of $141.3m for the financial year ended 31 March (FY26), up 5.7% year on year (YoY), whilst distribution per unit rose 2.6% to 9.850 Singapore cents, according to its results released on 7 May.

AIMS APAC REIT Management Limited, as manager of AIMS APAC REIT, said gross revenue increased 2.2% to $190.7m and distributions to unitholders rose 3.1% to $80.6m, supported by positive rental reversions across its portfolio and lower property expenses, including reduced utility costs and operational efficiencies.

It said rental reversions across 98 leases averaged 7.7% for the year, whilst portfolio occupancy remained at 93.6% or 96.8% on a committed basis. The weighted average lease expiry stood at 4.0 years across 28 properties valued at $2.25b.

The manager said it completed the acquisition of 2 Aljunied Avenue 1 during the year and finished asset enhancement initiatives at 15 Tai Seng Drive and 7 Clementi Loop. It also divested 3 Toh Tuck Link and completed the sale of 8 Senoko South Road in April 2026.

Aggregate leverage stood at 26.8% as at 31 March 2026, with no debt refinancing due until FY2027. The REIT reported an interest coverage ratio of 2.7 times and said it had about $263.4m in cash and undrawn facilities.

The manager issued $250m in perpetual securities during FY2026, which it said will be used to refinance existing perpetual securities due in September 2026.

NAV per unit rose to $1.28 from $1.23 a year earlier.

In Australia, two business park assets at Macquarie Park and Bella Vista were among projects endorsed by the New South Wales Government Investment Delivery Authority for potential data centre development.

The manager said carbon emissions fell 31% from its FY2020 baseline, while on-site renewable energy capacity increased 40% to 15.46 megawatt-peak.

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