New acquisitions boost CapitaLand Ascendas REIT's SG portfolio occupancy to 92.3% in 1Q23

The REIT recently acquired properties at 622 Toa Payoh Lorong 1 and 1 BurohLane.

The occupancy rate of CapitaLand Ascendas REIT's Singapore portfolio improved in 1Q23, rising to 92.3% from 92.1% in the previous quarters,

In a bourse filing, the REIT attributed the increase to its new acquisitions at 622 Toa Payoh Lorong 1 and 1 BurohLane.

The REIT said 35 Tampines Street 92 achieving full occupancy helped improve the portfolio's numbers for the quarter.

The company also recorded an increase in the occupancy rate of its multi-tenanted buildings in Singapore at 90.2%.

The REIT"s main sources of demand in Singapore were IT &data centres (30%) in terms of net lettable area (NLA) and financial and professional services (36.5%) in terms of gross rental income.

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