Basic Profile & Key Statistics
- Main Sector(s): Industrial & Office
- Country(s) with Assets: Singapore, United States & Canada
- of Properties (exclude development/associate/fund): 141
Key Indicators
Performance Highlight
Gross revenue and NPI improve yoy mainly due to contributions from new leases for Singapore properties. However, the amount available for distribution and DPU declined slightly mainly due to higher borrowing costs, higher management fees and a slightly larger unitholder base.
Rental Reversion
For renewal leases, hi-tech buildings, flatted factories and stack-up buildings achieved higher rental rates, while business parks remain similar. As for the new leases rental rate, the hi-tech building achieved a significantly higher rate, while flatted factories declined slightly and business parks decline more than 10%.
Development
The redevelopment of Kolam Ayer 2 is expected to be completed in phases where 165 Kallang Way obtained TOP while 163 &161 Kallang Way are to be in 1H2023.
Asset Enhancement Initiative
Installation of solar panels is completed for Loyang 1 & 2. Installation for the remaining 3 properties is expected...
