CapitaLand Ascendas REIT H1 NPI rises 6.2% to $556m

Acquisitions and Australian gains lift gross revenue 6.7% to $805.5m.

CapitaLand Ascendas REIT’s (CLAR) net property income (NPI) rose 6.2% year-on-year to $556.1m in the first half (H1) of 2026.

Gross revenue increased 6.7% to $805.5m, whilst distributable income grew 8.6% to $359.4m.

Distribution per unit stood at 7.482 cents, compared with 7.477 cents a year earlier.

The REIT attributed the improvement in NPI and gross revenue to acquisitions and stronger performance from its Australian properties.

Its manager, CapitaLand Ascendas REIT Management Limited, completed more than $1.1b of acquisitions during H1 at initial NPI yields ranging from 4.3% to 7.4%.

It has also announced a further $600m of acquisitions scheduled for completion in H2.

Meanwhile, CLAR owned 33 properties in Australia valued at $2.3b as at end June, accounting for 12% of its $20.1b portfolio.

Overall, it owned 234 properties across Singapore, Australia, the US, UK/Europe, and Japan. Singapore accounted for 65% of the portfolio, or $13.1b.

Portfolio occupancy stood at 89.1%. Excluding 27 IBP in Singapore and Summerville Logistics Center in the US, which were completed during the second quarter, occupancy was 90.3%.

The REIT said five ongoing development and asset-enhancement projects with a combined investment of $507.2m are scheduled for completion between 2026 and 2028.

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