CapitaLand Ascendas REIT Highlights Portfolio Resilience and Growth Strategy at Citi 2025 APAC Property Conference
Summary:
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Portfolio Strength: CapitaLand Ascendas REIT (CLAR) maintains a resilient and diversified portfolio with 232 properties across Singapore, Australia, the United States, and the United Kingdom/Europe.
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Stable Occupancy: Portfolio occupancy remained high at 94.4% with a well-spread WALE (Weighted Average Lease Expiry) of 3.7 years as of 31 March 2025.
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Active Capital Management: Aggregate leverage stood at 38.5% with a strong interest coverage ratio (ICR) of 3.6x, and 81.9% of borrowings are hedged or fixed.
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Green Initiatives: 56% of the portfolio has green certifications, aligning with CLAR’s commitment to sustainability and ESG goals.
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Proactive Leasing: Positive rental reversions of +11.1% in 1Q 2025 with strong tenant retention and proactive lease management across geographies.
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Overseas Growth: Overseas properties now account for ~50% of portfolio value, showing geographic diversification and income stability.
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Development Pipeline: Ongoing and upcoming projects in Singapore and overseas markets support future growth, including AEIs (Asset Enhancement Initiatives) and new developments in logistics and business parks.
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Market Outlook: CLAR remains cautiously optimistic amid macroeconomic headwinds, focusing on tenant engagement, capital recycling, and value creation.