Ascendas REIT says its distributable income for the first half of the year improved by 20 percent on year.This amounts to over S$80 million.
This will give a distribution of 6.25 cents per unit for the six months to September.
For the second quarter alone, its distributable income was up 19 percent to S$40 million.
In line with the growing economy in Singapore, the property trust expects demand for business and science park space to remain healthy.
In addition, a spillover effect from the present tight office supply and rising office rentals is likely to increase demand for business park and industrial space.
Source: Channel NewsAsia, 17 October 2006