Ascendas Reit optimistic on rental outlook in FY20
Its business and science park segment saw double-digit rent increases in first half of this year despite Covid-19 pressures
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Singapore
ASCENDAS Reit on Thursday posted a resilient set of financial results for the first half of the year even after including rental assistance to tenants, and it remains optimistic on its rental outlook going forward.
For the six months ended June 30, 2020, distribution per unit (DPU) fell to 7.27 Singapore cents, compared to 8.153 cents paid out a year ago, due to an enlarged unit base by more than 500 million units in the wake of its rights issue in December 2019.
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