Ascendas Real Estate Investment Trust (AREIT) is Singapore’s largest listed business space and industrial REIT. AREIT owns and manages a well-diversified portfolio of industrial, logistics, business parks, and data centre properties, valued at S$16.3 billion as of 31 December 2021. The portfolio comprises 220 properties in Singapore, Australia, the United Kingdom, Europe and the United States. Here are eight things I learned from the 2022 Ascendas REIT AGM. 1. Gross revenue grew 16.9% to S$1.2 billion, and net property income (NPI) rose 18.6% to S$920.8 million in FY2021. The increase in revenue and NPI was mainly from newly acquired properties and completed developments during FY2020 and FY2021. 2. Distributable income grew 17% to S$630.0 million, while distribution per unit (DPU) increased 3.9% to 15.258 cents in FY2021. The increase was mainly due to the rise in NPI, partially offset by performance fees (S$7.4 million) and increased non-property operating expenses and tax expenses attributable to new acquisitions....