Ascendas REIT Reports 14% Rise In H1 Distribution Income

Source : Channel NewsAsia, 19 October 2007

Ascendas Real Estate Investment Trust (A-REIT) has reported a 14 percent increase in first half distributable income to S$91 million.

It booked a 15 percent gain to S$46 million for the second quarter alone.

A-REIT cited the positive economic performance and the increasing demand for quality business space for the better performance.

Rentals have also increased by 32 percent for business and science parks, while those for hi-tech industrial properties have gone up by 15 percent.

A-REIT said this was due to the spillover effect from the tight CBD office market and its active asset management initiatives.

Distribution per unit for the three months to September is 3.51 cents. - CNA/ch