- CapitaLand Ascendas REIT achieved an average rental reversion of 8.6% in 4Q24 and saw a broad-based rise in occupancies across Singapore, Australia and the US.
- - Read this at SGinvestors.io -
Generating growth from cost efficiency.
- Gross revenue fell 1.1% y-o-y in 2H24 due to the divestment of three logistics properties in Australia and one logistics property in Singapore as well as the decommissioning of Welwyn Garden City in the UK and 5 Toh Guan Road East in Singapore for redevelopment.
- NPI margin improved 1.8ppt y-o-y to 69.3% due to lower operating expenses. Thus, NPI grew 1.4% y-o-y. Finance costs decreased 1.9% y-o-y.
Broad-based rise in occupancies across Singapore, Australia & the US.
- - Read this at SGinvestors.io -
- Australia: +0.8ppt q-o-q to 92.5%,
- UK/Europe: unchanged at 99.3% and
- US: +1.8ppt q-o-q to 88.9%.
Clocked high single-digit positive rental reversion.
- Read more at SGinvestors.io.
