Portfolio occupancy remained high at 94.2%, while rental reversion was positive at 13.4% for leases renewed in multi-tenant buildings during 2023. The portfolio’s weighted average lease expiry (WALE) period stood at 3.9 years and about 14.6% of CLAR’s gross rental income will be due for renewal in FY2024.
The manager of CapitaLand Ascendas REIT (CLAR) on Feb 1 announced its FY2023 ended December 2023 results, which saw distribution per unit (DPU) come in at 15.16 cents, some 4.0% lower y-o-y. The total amount available for distribution declined by 1.4% y-o-y to $654.4 million mainly due to higher interest expenses as a result of the high interest rate environment.
Gross revenue for FY2023 rose by 9.4% y-o-y to $1.48 billion. Net property income (NPI) rose by 5.6% y-o-y to $1.02 billion.
