News
COMMERCIAL PROPERTY | Staff Reporter, Singapore
view(s)

Chart of the Day: Here's a glimpse of Ascendas REIT's occupancy rates

AREIT observed that customers are downsizing operations amidst uncertain market conditions.

This chart from UOB Kay Hian (UOBKH) shows that the occupancy rate of the Singapore portfolio of Ascendas Real Estate Investment Trust (AREIT) dipped 3 ppt YoY to 87.1% in September.

“Management observed that customers are downsizing operations, moving into their own facilities, or deferring their renewal plans, so as maintain flexibility amidst uncertain market conditions,” UOBKH Noted.

With this, AREIT in return rolled out more attractive lease packages and incentivising agents through partnership rewards in order to clinch higher retention, UOBKH said.

Meanwhile, the firm’s Australia portfolio dipped 0.2 ppt YoY to 98.5% whilst their UK portfolio is 100% occupied. Overall portfolio occupancy remained stable at 90.6%.
 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.