CapitaLand Investment Limited (SG:9CI) has released an update.
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CapitaLand Ascendas REIT reported a solid performance in the first half of 2024, with a net property income increase of 3.9% year-on-year to S$528.4 million, attributed to contributions from new acquisitions and properties completed in the previous year. The company maintained a stable portfolio occupancy at 93.1% and enjoyed a significant average rental increase of 13.4% upon lease renewals. Despite a healthy leverage ratio of 37.8%, the REIT saw a slight dip in distribution per unit (DPU) by 2.5% compared to the same period in the previous year.
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