Basic Profile & Key Statistics Ascendas India Trust (AIT) invests in mainly office properties and owns 8 properties in India. Although AIT is listed as a business trust, it operates similarly to REIT.
Performance Highlight Total property income and net property income (in SGD) decreased YoY by 7% and 1% respectively due to lower occupancy, lower utilities and carpark income as well as the increase in SGD/INR exchange rate. Rental reversion is positive for all properties, despite a drop in occupancy rate.
AIT completed the acquisition of aVance6 and added 2 forward purchase arrangements for Industrial Facility in Chennai and IT parks in Bangalore. Another good news for DC fans, AIT is in the stage of acquiring land for greenfield data center development. There are 5 developments that are expected to be completed by this year as well as newly added developments to be completed between 2023 to...