Basic Profile & Key Statistics

ESR-REIT invests in Industrial, Business Park and Logistics properties which currently owns 57 properties in Singapore.

Performance Review

Gross revenue and NPI decreased by 9.1% and 12.6% respectively which mainly due to conversion of master lease to multi-tenant and non-renewal/downsizing of certain tenants. Distributable income and DPU (exclude top-up from asset disposal) decreased by 14.9% and 20.7% respectively.

YTD rental reversion is at -0.6%. which is slightly decreased from the previous quarter.

AEI for UE BizHub East and 19 Tai Seng Avenue are expected to complete in 1Q2021 and 3Q2021 respectively. Upcoming AEI is planned for 7000 Ang Mo Kio Ave 5.

Lease Profile

  • Occupancy is slightly low at 91%.
  • WALE is short at 3 years where the highest lease expiry of 23.9% falls in 2022 (same figure for 2023 too).
  • Weighted average land lease expiry is short at 28.34 years.

Debt Profile