Business space and industrial real estate investment trust "A-REIT" posted growth in gross revenue by 13% to S$761 million for the financial year ending on the final day March 2016 compared to S$673.5 million gross revenue a year ago.
Ascendas Real Estate Investment Trust (A-REIT) feature diversified portfolio, including 2 business park properties in China and 105 development properties in Singapore.
A-REIT also recorded an increased by 5.2% to 15.36 cents in Distribution per unit (DPU) for the whole of FY15/16 versus 14.6 cents in previously year, thanks to larger contributions from latest acquisitions, which include 27 logistics properties located Australia, The Kendall, Aperia, Hyflux Innovation Centre and Singapore's ONE @ Changi City.
CEO of A-REIT’s manager, Ascendas Funds Management, Chia Nam Toon is pleased to report the strong set of results. Assets has grown to S$9.9 billion by acquisitions in Singapore and Australia.
Total net property income of A-REIT climbed 15.3% to S$533.7 million from last year S$462.7 million, and its distributable income also increased by 7.7% to S$378.3 million from last year S$351.1 million income.