Ascendas Reit posts 3.7% rental reversion in Q3

Singapore

ASCENDAS real estate investment trust (Reit) posted a positive rental reversion of 3.7 per cent for lease renewals in the third quarter ended September, down from 8.9 per cent in the second quarter, it announced in a quarterly business update on Tuesday (Oct 19).

It expects rental reversion for FY2021 to be in the "positive low-single-digit range", given market uncertainties. In the year to date, rental reversion stands at 5.4 per cent.