4 Changi South Lane (Photo from Ascendas Reit)

Ascendas REIT’s net income increase 7% YoY to $476.9m in H1 22

The increase was driven by contributions from its newly acquired properties.

Ascendas Real Estate Investment Trust’s (Ascendas REIT) net income rose 7% YoY to $476.9m in H1 22, its latest financial statement revealed.

According to the REIT’s manager, the income increase was on the back of Ascendas’ higher revenue of $666.5m (+13.7% YoY) driven by contributions from its newly acquired properties in Singapore, the UK, the US, and Australia.

In H1, the REIT completed $261.6m worth of acquisitions.

Ascendas’ built-to-suit development in Singapore also drove additional revenue in H1, according to the manager.

With increased income, the REIT’s total distribution to unitholders also rose 6.3% YoY to $330.7m, whilst its distribution per Unit  (DPU) climbed 2.8% YoY to $0.07873.

Looking ahead, the manager believes that Ascendas REIT’s diversified portfolio in developed markets like Singapore will allow it to “stay ahead of the curve, weather the economic uncertainties and continue to grow in a healthy manner.”

as of 31 march 2022, Ascendas REIT has an overall occupancy rate of 94.0%. Its portfolio is worth n$16.6b with a total of 229 properties, and more than 1,600 tenants. Of its properties, 61% are in Singapore.

READ MORE: Ascendas REIT posts higher rental reversion of 4.6% in Q1 2022

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


ION Orchard marks 15 years as a premier retail destination
The mall is proactive in conducting surveys to identify trends and optimise its tenant mix.
ION Orchard leads charge in sustainable takeaway practices
 Shoppers will enjoy discounts when they opt for a reusable mug or food container from Muuse.
Lendela on why banks need fintechs to buoy loan growth
Loan demand has doubled in Singapore, and fintechs can help onboard quality clients.