Basic Profile & Key Statistics
- Main Sector(s): Industrial & Office
- Country(s) with Assets: Singapore, United States & Canada
- of Properties (exclude development/associate/fund): 143
Performance Highlight
Gross revenue, NPI, distributable income, and DPU increased yoy mainly due to contributions from the 29 data centres acquired in Jul 2021 and the data centre in Virginia acquired in Mar 2021.
Rental Reversion
The rental rate for renewal leases is more or less the same as before renewal for all types of buildings. Whereas for new leases, the rental rate is similar to passing rent for business parks and ramp-up buildings, slightly lower for flatted factories but significantly lower for hi-tech buildings.
Development
The redevelopment of Kolam Ayer 2 is expecte1d to be completed in phases where 163 & 165 Kallang Way in 2H2022 and 161 Kallang Way in 1H2023.
Divestment
MIT completed the divestment of 19 Changi South Street 1 in April, which contributed to 0.07% of gross revenue....
