Ascendas REIT total amount for distribution up 17% YoY to $630m

A record $2.1b worth of new investments were seen across the business space.

The total amount available for distribution for the financial year 2021 was up by 17% year-on-year (YoY) to $630m, according to a release by Ascendas REIT. 

This was mainly due to contributions from newly acquired properties and also resulted in a distribution per unit (DPU) of 3.9% YoY to 15.258 cents. 

Net property income was also up by 18.6% YoY to reach $920.8m. 

“We are pleased to deliver a year-on-year DPU growth of 3.9% to Unitholders. Ascendas Reit’s portfolio occupancy rate remained healthy at 93.2% and also achieved a positive average rent reversion of 4.5% in FY2021,” said William Tay, CEO and Executive Director, Board of Directors of Ascendas Funds Management (S) Limited.

Also included in the report was a record $2.1b worth of investments, bringing total investment properties to $16.3b. Acquisitions of 11 data centres across the UK, France, the Netherlands, and Switzerland were pegged at $904.6m, whilst two business space properties in Singapore and Sydney, were also acquired at $814.4m.

In the second half of 2021, the built-to-suit business space property for Grab’s Headquarters in Singapore was completed for $184.6m. 11 last-miles logistics properties were also acquired in Kansas City, USA, for $207.8m.