“Demand from government contracts and long-stays cushioned its net property income (NPI), while domestic demand has gained pace (especially in China) and should support RevPAU recovery in FY21,” says Chua.
Maybank Kim Eng analyst Chua Su Tye has rated “buy” on Ascott Residence Trust (ART) with a maintained target price of $1.05 after it reported a 27% increase q-o-q in its revenue per average unit (RevPAU) to $47.
Portfolio occupancy also improved 10 percentage points q-o-q to 40% for the 3QFY2020, which 93% of its 88 properties operational, up from 76% in 2QFY2020.
