Ascendas REIT Posts 1H Net Property Income of S$523.4M, Distributable Income of S$331.1M.

Ascendas Real Estate Investment Trust (AREIT) reported 1H results with a net property income of S$523.4 million, distributable income of S$331.1 million, and gross revenue of S$754.8 million.

Ascendas Real Estate Investment Trust (AREIT) has released its 1H 2025 financial results, showcasing a net property income of S$523.4 million, distributable income of S$331.1 million, and gross revenue of S$754.8 million. These figures reflect the trust's performance during the first half of the year despite ongoing macroeconomic uncertainties.

The trust's net property income declined by 0.9 percent year-on-year, primarily due to the divestment of five properties across Australia, Singapore, and the US since February 2024, and the decommissioning of the Welwyn Garden City data centre near London for redevelopment. However, this was partly offset by the acquisition of a US warehouse earlier in the year [3].

AREIT's gross revenue fell by 2 percent year-on-year to S$754.8 million, while its distributable income rose marginally compared to the previous year to S$331.1 million. These results underscore the continued strength of the trust's diversified portfolio and operational management strategies [2].

The trust's portfolio occupancy remained healthy at 91.8 percent, and leases renewed in the first half achieved a positive average rental reversion of 9.5 percent. AREIT also completed the acquisition of the DHL Indianapolis Logistics Center in the US state of Indiana for S$153.4 million and will acquire its first logistics development project in the US at a site in South Carolina for a total investment cost of S$94.8 million. Additionally, the trust is set to complete the acquisition of 9 Tai Seng Drive, a co-location data centre, and 5 Science Park Drive, the headquarters building of e-commerce player Shopee, by the end of 2025 [3].

At the end of June, AREIT's portfolio stood at 225 investment properties valued at S$16.8 billion, including S$11 billion in Singapore, S$2.1 billion in Australia, S$2 billion in the US, and S$1.7 billion in Europe. The trust has six ongoing projects, including one development, three redevelopments, and two asset enhancement initiatives, with an aggregate investment of S$498.4 million [3].

AREIT's results demonstrate its ability to navigate economic challenges and maintain a strong financial performance. The trust's strategic acquisitions and ongoing projects position it well for future growth.

References:

[1] https://investor.capitaland-ascendasreit.com/news.html/id/2573145
[2] https://seekingalpha.com/news/4477722-ascendas-real-estate-investment-trust-reports-1h-results
[3] https://www.mingtiandi.com/real-estate/finance/capitaland-ascendas-reit-h1-net-property-income-dips-0-9/