,Singapore

AIMS APAC REIT net property income up 23.9% to $23m

The firm was named one of the Top 10 best performing S-REITs in H1 2021 by the SGX.

AIMS APAC REIT (AA REIT) reported a net property income of $23m for the first quarter of its financial year, a 23.9% increase from the same period last year.

“We are encouraged to be named [as one of the] Top 10 best performing S-REITs in first half of 2021 in terms of percentage of total returns. We will continue to evaluate total return investment opportunities in our core markets of Singapore and Australia which offer sustainable income yield and good capital growth potential,” said AA REIT Management Limited Chairman George Wang in a disclosure to the SGX.

Its portfolio occupancy stood at 95.7% by end-June, whilst the weighted average lease expiry stood at 3.98 years.

Its acquisition of a property at 315 Alexandra Road for $102m is subject to approval by the JTC.

It currently has a portfolio of 28 properties in Singapore and Australia, with 188 tenants across its properties.

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