Ascendas Reit's Q1 occupancy slips to 90.6%; it achieves positive 3% rental reversion
Demand in Singapore expected to remain subdued as companies stay cautious amid lingering global uncertainties
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Singapore
ASCENDAS real estate investment trust (Reit) reported positive rental reversion of 3 per cent in first quarter lease renewals, but portfolio occupancy slid to 90.6 per cent from 91.7 per cent in last quarter and the year-ago period.
Occupancy in Singapore came down to 86.9 per cent for the three months ended March 31, 2021, from 88.6 per cent, the Reit manager said in a quarterly business update on Friday.
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