Ascendas Reit H2 DPU up 2.4%; manager continues to eye overseas growth opportunities

THE manager of Ascendas Reit is planning to deepen its presence in the US and Europe markets as the real estate investment trust (Reit) continues to seek growth. But chief executive of the Reit manager William Tay believes it is "tough" to exceed the pace of acquisitions completed in FY2021.

Ascendas Reit completed S$2.12 billion worth of acquisitions and developments in FY2021, including the purchase of 11 data centres in Europe and 11 logistics properties in the US.

"S$1-2 billion is something that we want to be able to work on (in FY2022)," Tay said at a briefing following its FY2021 results announcement on Tuesday (Feb 8). "(The acquisitions) first of all must be meaningful, but we would not be shy in even making small, single acquisitions and bulk up in certain locations that we find attractive."