News

Commercial Property

Staff Reporter

, Singapore

Published:

2 years ago

181 views

In 1H 2023, CLAR completed three accretive acquisitions in Singapore with an aggregate purchase consideration of S$514.9 million. The acquisitions were a high-tech industrial property at 622 Toa Payoh Lorong 1 (Photo from CLAR)

CapitaLand Ascendas REIT’s net property income rises 6.7% YoY to $508.8m in 1H23

The REIT attributed the increase to “robust operational performance.”

Robust operational performance and high portfolio occupancy boosted CapitaLand Ascendas REIT’s (CLAR) net property income to $508.8m in 1H23, a 6.7% increase from 1H22.

Based on CLAR”s latest financial statement, its portfolio occupancy hit 94.4% in 1H23.

Apart from high portfolio occupancy, newly acquired properties in Singapore in 1H 2023 and the US in FY2022 drove the increase in the REIT’s NPI.

Higher utilities income and service charges from the Singapore portfolio also contributed to the improved performance of the REIT.

Despite the higher NPI, CLAR delivered a lower DPU of $0.07719 due to “the lower distribution and the enlarged unit base following the issuance of new units pursuant to CLAR’s private placement in May 2023.”

Follow the link for more news on

CapitaLand

Financial Statements

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia