- CapitaLand Ascendas REIT’s 1H25 numbers are largely in line, with a muted impact from tariff policies so far. Key highlight: Continued healthy rent reversions (2Q: 8%,1H: 9.5%) across markets, and these are likely to be maintained. Its portfolio occupancy rate, however, is expected to be slightly subdued.
- - Read this at SGinvestors.io -
Completed redevelopment of 1 Science Park Drive (Geneo)
- Completed redevelopment of 1 Science Park Drive (Geneo) in which it owns a 34% stake along with CapitaLand Development (66% stake) at a total development cost of S$883m. The building has attracted strong leasing interest, with ~95% of the space being committed or in advanced negotiations. Tenants are expected to progressively move in from 2H, with meaningful income contributions to kick in next year. Final yield on cost is expected to be better than its earlier guided 6.3%.
- - Read this at SGinvestors.io -
Evaluating options for Telepark (valued at S$270m, ~1.5% of FY24 revenue) which was vacated in April.
- Read more at SGinvestors.io.
