Ascendas REIT's net property income grew 6.1% to $462.7m in FY15

On back of higher rents.

Ascendas REIT reported that its net property income grew 6.1% year-on-year to $462.7m in FY14/15, on back of higher occupancy rates and rental reversions at its portfolio.

Occupancy rates for the overall portfolio and multi-tenant buildings improved to 87.7% and 83% respectively.

This is mainly attributable to higher occupancies at Aperia, 21 Jalan Buroh and A-REIT City @Jinqiao.

Positive rental reversion was achieved across all segments of the portfolio. A weighted
average rental reversion of 8.3% was achieved for leases renewed in FY14/15.

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