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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

Kelly Ng

Kelly Ng

Published Sat, Apr 24, 2021 · 05:50 AM

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.

It attributed this decline to non-renewals at the TÜV SÜ…

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CapitaLand Ascendas Reit H1 DPU declines 2% on higher interest expense, enlarged unit base

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