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CapitaLand Ascott Trust’s 2H FY24 Result Review
By REIT-TIREMENT  •  February 5, 2025

Basic Profile & Key Statistics


Key Indicators

Performance Highlight

CapitaLand Ascott Trust (CLAS) reported a YoY increase in revenue and gross profit, driven by higher income from existing properties and contributions from newly acquired assets. However, total distribution and DPS declined due to higher finance costs, lower realized exchange gains, and increased tax expenses. Excluding non-periodic exchange gains, core distribution and core DPS saw an improvement.

Revenue per Available Unit



In 4Q 2024, RevPAU improved YoY, reaching 113% of pre-COVID levels. Similarly, 2H RevPAR showed positive growth, indicating strong demand recovery across CLAS’s portfolio.

Acquisition

In December 2024, CLAS acquired lyf Funan Singapore.

Divestment

During 2H, CLAS divested several assets, including Novotel Sydney Parramatta, Citadines Karasuma-Gojo Kyoto, and Infini Garden. Additionally, the divestment of Somerset Olympic Tower Tianjin is expected to be completed in 2Q 2025.

Development

The redevelopment of Somerset Liang Court Singapore is on track, with completion expected in 2026.

Asset Enhancement Initiative

AEI works were completed
...
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By REIT-TIREMENT
I am Vince and welcome to my blog. I started this blog on 1st January 2019. Since the start of my investment journey, I have been fond of REITs because of its dividends. REITs allowed you to become a property landlord and get rental income without having to fork out large sum of initial capital, look out for tenant as well as manage the properties ...
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