CapLand Ascendas REIT distributes dividends, with a 0.6% decrease per unit in the first half of the year | Lianhe Zaobao

CapitaLand Ascendas REIT's distribution per unit (DPU) for the first half of this year decreased by 0.6% to 7.477 cents, with distributable income amounting to SGD 331 million. The net property income (NPI) fell by 0.9% due to the impact of declining revenue. The performance report for the first half of 2025, released by CapitaLand Ascendas REIT after the market closed on Monday (August 4), showed that the total revenue for the trust in the first half of the year decreased by 2% year-on-year to SGD 754.8 million, due to the sale of five properties in Australia, Singapore, and the United States, as well as the redevelopment of a property in the United Kingdom, which resulted in a loss of income contribution from these properties. Assets acquired in the United States in January this year offset some of the revenue decline, leading to a year-on-year decrease in net property income of 0.9% to SGD 523.4 million for the first half of the year. In May this year, the trust conducted a private placement to raise funds to support asset acquisitions. Compared to the same period last year, the unit base expanded by approximately 0.7% or 4.4 billion units, which affected the trust's distribution per unit for the first half of the year, decreasing from 7.524 cents in the first half of last year to 7.477 cents. Further Reading CapitaLand Ascendas REIT's portfolio occupancy rate slightly decreased to 91.5% CapitaLand Ascendas REIT acquires two local industrial properties for SGD 700 million, private placement raises at least SGD 500 million In the first half of this year, the trust completed property acquisitions and redevelopment of the science park corridor valued at approximately SGD 1.1782 billion The CEO of CapLand Ascendas REIT, Zheng Weiliang, said at the earnings briefing: "We will mainly continue to explore opportunities for acquiring assets in Singapore and Europe. We will pause our development in the U.S. market to observe changes in the situation and assess the possibility of restarting acquisitions in the future." As for whether U.S. tariffs have affected tenants' willingness to renew leases, Zheng Weiliang stated that it has not yet manifested, and it may only become apparent in the third or fourth quarter. "Faced with uncertainties, tenants may delay business expansion and might opt for short-term leases of two to three years instead of five or seven-year long leases when renewing." CapLand Ascendas REIT's stock price closed up 2.19%, at 2.80 SGD