Successful Portfolio Reconstitution
Acquisition of Northpoint City South Wing and divestment of Y10, accompanied by successful EFR fundraising of over $420 million and $200 million via perpetual securities.
Strong Operational Performance
Positive rental reversion at 7.8%, shopper traffic increased by 1.6%, and tenant sales grew by 3.7%. Committed occupancy at 98.1%, potentially at 99.9% without cinema vacancies.
Improved Financial Metrics
Aggregate leverage decreased to 39.6%, interest coverage ratio healthy at 3.46x, and average cost of debt reduced to 3.5% for the quarter.
Sustainability and ESG Achievements
Recognized as Regional Sector Leader in Asia, Retail category in the 2025 GRESB Assessment, with a score increase from 91 to 93. Initiatives included solarization and food valorization programs.
Positive Market Conditions
Inflation continued to ease with a year-on-year decrease to 0.5% in August. Retail sales index growth at 4.6% year-on-year for August.