Link: https://links.sgx.com/1.0.0/corporate-announcements/26JGKY8HELG6K4WB/2f72cf9b20b93d4dbd474e9af830002cbbd6cd68d3dd3c696f22e7f7f55d9026

Summary:

• 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.

• 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.

• 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.

• Green Initiatives: 56% of the portfolio has green certifications, aligning with CLAR’s commitment to sustainability and ESG goals.

• Proactive Leasing: Positive rental reversions of +11.1% in 1Q 2025 with strong tenant retention and proactive lease management across geographies.

• Overseas Growth: Overseas properties now account for ~50% of portfolio value, showing geographic diversification and income stability.

• 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.

• Market Outlook: CLAR remains cautiously optimistic amid macroeconomic headwinds, focusing on tenant engagement, capital recycling, and value creation.