CapitaLand Ascendas Reit targets further overseas expansion for greater resilience

WILLIAM Tay, chief executive officer of the manager of CapitaLand Ascendas Reit (Clar ), wants to increase the proportion of overseas assets in the Singapore-listed real estate investment trust (S-Reit)‘s portfolio, with the intent of gaining resilience through diversification.

As of end June, some 61 per cent of Clar’s S$16.6 billion portfolio of investment properties are based in Singapore. The United States accounts for 15 per cent of its portfolio by asset value, with another 14 per cent based in Australia, and the remaining 10 per cent in the United Kingdom and Europe.

This geographical diversification into developed markets, Tay said, has given Singapore’s largest industrial S-Reit by market capitalisation and assets under management (AUM) “a very strong base”.