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One of CLAR's properties. /CLAR

CapitaLand Ascendas Reit’s DPU up 4.3% due to positive rent aversion

The Reit also posted high portfolio occupancy.

Business and industrial REIT, CapitaLand Ascendas Reit, said the distribution per unit (DPU) rose 4.3% in the second half of 2022 following positive rent aversion and high portfolio occupancy.

In a press statement, the REIT said this was higher from the same period in 2021 with $0.07598.

It was supported by robust operational performance with portfolio occupancy reaching 10-year high of 94.6% and a positive average rent reversion of 8%.

The rent reversion rate was on the back of leases that were renewed during the fiscal year 2022 and contributions from acquisitions and developments completed during 2021 and 2022.

CapitaLand Ascendas Reit’s gross revenue for the fiscal year of 2022 increased by 10.3% year-on-year to $1.35b. 

It maintained its resilience during inflationary pressures after it documented a net property income (NPI) of $968.8 million up 5.2% year-on-year.

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