Supplementary Information For six months ended 30 June 2025
Table 1: Occupancy Rates for CapitaLand Ascendas REIT's portfolio 2
Table 2: CapitaLand Ascendas REIT Singapore gross rental rates for the six months ended 30 June 2025 9
Figure 3: Existing Singapore industrial space stock of 54.0 million sqm 10
Table 4: Sector Performance 11
Figure 5a: CapitaLand Ascendas REIT Portfolio by Gross Revenue - Tenant Industry Mix 13
Figure 5b: CapitaLand Ascendas REIT Portfolio by Gross Revenue - Tenants' Country of Origin 13
Figure 6a: Singapore Portfolio by Gross Revenue - Tenant Industry Mix 14
Figure 6b: Singapore Portfolio by Gross Revenue - Tenants' Country of Origin 14
Figure 7a: United States Portfolio by Gross Revenue: Tenant Industry Mix 15
Figure 7b: United States Portfolio by Gross Revenue - Tenants' Country of Origin 15
Figure 8a: Australia Portfolio by Gross Revenue - Tenant Industry Mix 16
Figure 8b: Australia Portfolio by Gross Revenue - Tenants' Country of Origin 16
Figure 9a: United Kingdom/Europe Portfolio by Gross Revenue: Tenant Industry Mix 17 Figure 9b: United Kingdom/Europe Portfolio by Gross Revenue - Tenants' Country of
Origin 17
Table 1: Occupancy Rates for CapitaLand Ascendas REIT's portfolioProperties | Net Lettable Area (sqm) | Occupancy as at | |||
30-Jun-25 | 31-Dec-24 | 30-Jun-24 | |||
Singapore | |||||
Business Space and Life Sciences | |||||
Business Space | |||||
one-north | |||||
1 | Nexus @one-north | 21,072 | 90.1% | 89.3% | 91.6% |
2 | Galaxis | 60,916 | 99.8% | 99.9% | 99.2% |
3 | Grab Headquarters | 42,291 | 100.0% | 100.0% | 100.0% |
4 | The Shugart | 40,880 | 100.0% | 100.0% | 100.0% |
International Business Park | |||||
5 | Techquest | 9,079 | 100.0% | 100.0% | 100.0% |
6 | 27 IBP1 | - | - | - | - |
7 | Acer Building | 22,557 | 29.8% | 33.9% | 36.5% |
8 | 31 International Business Park | 48,995 | 38.1% | 42.3% | 49.3% |
9 | Nordic European Centre | 21,995 | 81.0% | 82.8% | 78.0% |
Changi Business Park | |||||
10 | 17 Changi Business Park Central 1 | 14,299 | 37.3% | 35.6% | 44.0% |
11 | 1 Changi Business Park Avenue 1 | 9,185 | 74.1% | 73.9% | 73.9% |
12 | Hansapoint | 16,401 | 58.2% | 53.4% | 47.2% |
13 | 1, 3 & 5 Changi Business Park Crescent | 63,022 | 81.1% | 79.0% | 77.9% |
14 | DBS Asia Hub | 38,172 | 100.0% | 100.0% | 100.0% |
15 | 3 Changi Business Park Vista | 15,079 | 68.0% | 48.6% | 48.6% |
16 | ONE@Changi City | 61,203 | 99.5% | 99.5% | 81.5% |
Singapore Science Park I | |||||
17 | Cintech I | 10,900 | 58.8% | 54.6% | 51.1% |
18 | Cintech II | 10,155 | 100.0% | 100.0% | 100.0% |
19 | 12, 14 & 16 Science Park Drive | 78,871 | 100.0% | 100.0% | 100.0% |
Singapore Science Park II | |||||
20 | The Alpha | 20,733 | 88.0% | 89.1% | 76.3% |
21 | The Capricorn | 20,712 | 75.6% | 79.9% | 81.6% |
22 | FM Global Centre | 11,613 | 100.0% | 100.0% | 100.0% |
Life Sciences | |||||
one-north | |||||
23 | Neuros & Immunos | 28,603 | 99.9% | 100.0% | 99.7% |
24 | Nucleos | 37,675 | 94.2% | 94.2% | 94.7% |
Singapore Science Park I | |||||
25 | The Rutherford & Oasis | 19,065 | 67.4% | 68.7% | 68.4% |
26 | Cintech III & IV | 18,333 | 77.8% | 76.7% | 76.1% |
Singapore Science Park II | |||||
127 IBP (previously known as iQuest@IBP) was decommissioned for redevelopment in Jan 2020.
27 | The Aries, Sparkle & Gemini | 36,897 | 81.0% | 80.4% | 78.4% |
28 | The Galen | 22,310 | 92.7% | 93.8% | 88.4% |
29 | The Kendall | 17,061 | 83.3% | 87.4% | 88.8% |
Industrial and Data Centres | |||||
Industrial | |||||
30 | Aperia | 69,493 | 88.6% | 96.5% | 95.8% |
31 | Techlink | 36,294 | 96.2% | 97.2% | 96.0% |
32 | Siemens Centre | 28,089 | 89.3% | 89.3% | 94.0% |
33 | Infineon Building | 27,278 | 100.0% | 100.0% | 100.0% |
34 | Techpoint | 40,339 | 76.8% | 67.8% | 71.8% |
35 | KA Centre | 13,560 | 100.0% | 97.3% | 96.1% |
36 | Pacific Tech Centre | 19,573 | 92.5% | 89.5% | 92.4% |
37 | Techview | 38,616 | 98.1% | 100.0% | 99.4% |
38 | 1 Jalan Kilang | 6,071 | 100.0% | 100.0% | 100.0% |
39 | 30 Tampines Industrial Avenue 3 | 9,593 | 0.0% | 0.0% | 0.0% |
40 | 31 Ubi Road 1 | 12,943 | 75.6% | 73.2% | 73.2% |
41 | Schneider Electric Building | 18,970 | 100.0% | 100.0% | 100.0% |
42 | UBIX | 13,877 | 97.5% | 99.3% | 97.5% |
43 | 138 Depot Road | 26,239 | 84.5% | 84.5% | 84.5% |
44 | 2 Changi South Lane | 20,939 | 100.0% | 100.0% | 100.0% |
45 | 9 Serangoon North Avenue 52 | 8,671 | 0.0% | 100.0% | 100.0% |
46 | Corporation Place | 56,357 | 77.8% | 81.1% | 86.2% |
47 | 80 Bendemeer Road | 35,431 | 86.1% | 90.7% | 88.5% |
48 | Techplace I | 59,524 | 100.0% | 99.6% | 100.0% |
49 | Techplace II | 83,200 | 99.0% | 98.1% | 97.2% |
50 | Osim Headquarters | 15,068 | 100.0% | 100.0% | 100.0% |
51 | 12 Woodlands Loop | 16,593 | 100.0% | 100.0% | 100.0% |
52 | 247 Alexandra Road | 12,803 | 100.0% | 100.0% | 100.0% |
53 | 5 Tai Seng Drive | 11,359 | 100.0% | 100.0% | 100.0% |
54 | 35 Tampines Street 92 | 8,931 | 100.0% | 100.0% | 100.0% |
55 | 53 Serangoon North Avenue 4 | 10,071 | 100.0% | 100.0% | 98.2% |
56 | 3 Tai Seng Drive | 11,723 | 100.0% | 100.0% | 100.0% |
57 | 52 Serangoon North Avenue 4 | 11,044 | 100.0% | 100.0% | 100.0% |
58 | Tampines Biz-Hub | 14,551 | 98.0% | 98.0% | 93.2% |
59 | 455A Jalan Ahmad Ibrahim | 6,430 | 100.0% | 100.0% | 100.0% |
60 | 37A Tampines Street 92 | 10,178 | 100.0% | 100.0% | 100.0% |
61 | Hamilton Sundstrand Building | 16,744 | 100.0% | 100.0% | 100.0% |
62 | 21 Changi North Rise | 7,771 | 100.0% | 100.0% | 100.0% |
63 | Ubi Biz-Hub | 10,631 | 100.0% | 100.0% | 100.0% |
64 | 2 Senoko South Road | 17,619 | 100.0% | 100.0% | 100.0% |
65 | 18 Woodlands Loop | 16,056 | 100.0% | 100.0% | 100.0% |
66 | 9 Woodlands Terrace | 2,959 | 100.0% | 100.0% | 100.0% |
2Formerly known as CGG Veritas Hub
67 | 11 Woodlands Terrace | 2,919 | 100.0% | 100.0% | 100.0% |
68 | FoodAxis @ Senoko | 44,439 | 100.0% | 100.0% | 100.0% |
69 | 31 Joo Koon Circle | 17,638 | 100.0% | 100.0% | 100.0% |
70 | 622 Toa Payoh Lorong 1 | 28,995 | 99.2% | 100.0% | 100.0% |
Data Centres | |||||
71 | 5 Tampines Central 63 | 24,610 | 6.0% | 99.6% | 99.7% |
72 | Kim Chuan Telecommunications Complex | 35,456 | 100.0% | 100.0% | 100.0% |
73 | 38A Kim Chuan Road | 32,885 | 100.0% | 100.0% | 100.0% |
Logistics | |||||
74 | 20 Tuas Avenue 1 | 40,990 | 92.2% | 91.2% | 100.0% |
75 | LogisTech | 30,177 | 82.4% | 82.7% | 99.9% |
76 | Changi Logistics Centre | 44,026 | 98.1% | 95.3% | 93.8% |
77 | Courts Megastore | 28,410 | 100.0% | 100.0% | 100.0% |
78 | Giant Hypermart | 42,178 | 100.0% | 100.0% | 100.0% |
79 | 4 Changi South Lane | 15,611 | 100.0% | 92.7% | 100.0% |
80 | 40 Penjuru Lane | 151,815 | 100.0% | 99.8% | 94.4% |
81 | Xilin Districentre A&B | 21,315 | 100.0% | 100.0% | 100.0% |
82 | 20 Tuas Avenue 6 | 5,085 | 100.0% | 100.0% | 100.0% |
83 | Xilin Districentre D | 15,764 | 96.1% | 96.1% | 62.3% |
84 | 9 Changi South Street 3 | 24,233 | 99.0% | 96.0% | 96.2% |
85 | 5 Toh Guan Road East4 | - | - | - | - |
86 | 10 Toh Guan Road | 41,059 | 94.1% | 91.9% | 93.0% |
87 | Xilin Districentre C | 13,315 | 96.8% | 96.8% | 94.0% |
88 | 19 & 21 Pandan Avenue | 71,749 | 100.0% | 100.0% | 100.0% |
89 | 1 Changi South Lane | 23,706 | 100.0% | 100.0% | 100.0% |
90 | Logis Hub @ Clementi | 23,107 | 88.0% | 100.0% | 100.0% |
91 | 21 Changi South Avenue 2 | 11,440 | 100.0% | 100.0% | 100.0% |
92 | 15 Changi North Way | 28,974 | 100.0% | 100.0% | 100.0% |
93 | Pioneer Hub | 80,498 | 99.3% | 99.3% | 99.3% |
94 | 71 Alps Avenue | 11,003 | 100.0% | 100.0% | 100.0% |
95 | 90 Alps Avenue | 26,277 | 100.0% | 100.0% | 100.0% |
96 | 1 Buroh Lane | 55,731 | 98.7% | 100.0% | 100.0% |
Australia | |||||
Logistics | |||||
Brisbane, Queensland | |||||
97 | 95 Gilmore Road | 41,319 | 100.0% | 100.0% | 100.0% |
98 | 99 Radius Drive | 14,592 | 100.0% | 100.0% | 100.0% |
99 | 1-7 Wayne Goss Drive | 17,907 | 100.0% | 100.0% | 100.0% |
100 | Cargo Business Park | 8,216 | 87.7% | 88.9% | 91.2% |
101 | 500 Green Road | 38,711 | 100.0% | 100.0% | 100.0% |
Melbourne, Victoria | |||||
102 | 676 - 698 Kororoit Creek Road | 44,036 | 100.0% | 100.0% | 100.0% |
103 | 700 - 718 Kororoit Creek Road | 28,037 | 100.0% | 100.0% | 100.0% |
3Formerly known as Telepark.
45 Toh Guan Road East was decommissioned for redevelopment in Nov 2023.
104 | 2 - 16 Aylesbury Drive | 17,513 | 100.0% | 100.0% | 100.0% |
105 | 9 Andretti Court | 24,158 | 100.0% | 100.0% | 100.0% |
106 | 14 - 28 Ordish Road | 28,224 | 100.0% | 100.0% | 100.0% |
107 | 31 Permas Way | 44,540 | 100.0% | 100.0% | 100.0% |
108 | 35 - 61 South Park Drive | 32,167 | 100.0% | 100.0% | 100.0% |
109 | 162 Australis Drive | 23,255 | 100.0% | 100.0% | 100.0% |
110 | 81 - 89 Drake Boulevard | 14,099 | 0.0% | 100.0% | 100.0% |
111 | 52 Fox Drive | 18,040 | 100.0% | 100.0% | 100.0% |
112 | 169 - 177 Australis Drive | 31,049 | 100.0% | 100.0% | 100.0% |
Perth, Western Australia | |||||
113 | 35 Baile Road | 20,895 | 100.0% | 100.0% | 100.0% |
Sydney, New South Wales | |||||
114 | 484 - 490 Great Western Highway | 13,304 | 100.0% | 100.0% | 100.0% |
115 | 494 - 500 Great Western Highway | 25,256 | 100.0% | 100.0% | 100.0% |
116 | 1 Distribution Place | 13,513 | 100.0% | 100.0% | 100.0% |
117 | 1 - 15 Kellet Close | 23,205 | 100.0% | 100.0% | 100.0% |
118 | 1A & 1B Raffles Glade | 21,703 | 100.0% | 100.0% | 100.0% |
119 | 5 Eucalyptus Place | 10,732 | 100.0% | 100.0% | 100.0% |
120 | 7 Grevillea Street | 51,709 | 100.0% | 100.0% | 100.0% |
121 | 16 Kangaroo Avenue | 19,918 | 100.0% | 0.0% | 0.0% |
122 | 94 Lenore Drive | 21,143 | 100.0% | 100.0% | 100.0% |
123 | 6 - 20 Clunies Ross Street | 38,579 | 6.1% | 6.1% | 100.0% |
124 | 7 Kiora Crescent | 13,114 | 100.0% | 100.0% | 100.0% |
Business Space | |||||
Brisbane, Queensland | |||||
125 | 100 Wickham Street | 12,969 | 88.7% | 92.6% | 96.3% |
126 | 108 Wickham Street | 11,839 | 76.3% | 94.6% | 94.6% |
Melbourne, Victoria | |||||
127 | 254 Wellington Road | 17,646 | 100.0% | 100.0% | 93.4% |
Sydney, New South Wales | |||||
128 | 197 - 201 Coward Street | 22,469 | 94.2% | 86.8% | 86.5% |
129 | 1-5 Thomas Holt Drive | 39,085 | 100.0% | 100.0% | 100.0% |
130 | MQX4 | 19,693 | 100.0%5 | 100.0%5 | 100.0%5 |
United States | |||||
Business Space and Life Sciences | |||||
Business Space | |||||
Portland, Oregon | |||||
131 | 8300 Creekside | 5,030 | 93.9% | 93.9% | 93.9% |
132 | 8305 Creekside | 1,837 | 88.6% | 88.6% | 88.6% |
133 | 8405 Nimbus | 4,997 | 100.0% | 100.0% | 100.0% |
134 | 8500 Creekside | 6,085 | 100.0% | 100.0% | 100.0% |
135 | 8700-8770 Nimbus | 3,340 | 95.7% | 95.7% | 95.7% |
136 | 9205 Gemini | 3,805 | 31.2% | 31.2% | 53.7% |
5Three-year rental guarantee in place starting from 17 Oct 2023.
137 | 9405 Gemini | 4,382 | 0.0% | 0.0% | 0.0% |
138 | Creekside 5 | 4,463 | 83.9% | 83.9% | 66.6% |
139 | Creekside 6 | 6,916 | 72.7% | 66.3% | 63.2% |
140 | Greenbrier Court | 7,190 | 100.0% | 100.0% | 100.0% |
141 | Ridgeview | 8,733 | 83.6% | 63.0% | 57.4% |
142 | Heartwood | 15,899 | 50.5% | 49.7% | 49.7% |
143 | The Commons | 6,479 | 80.3% | 80.3% | 83.1% |
144 | Waterside | 11,762 | 88.8% | 88.8% | 84.6% |
Raleigh, North Carolina | |||||
145 | 5200 East & West Paramount Parkway | 29,478 | 88.3% | 88.3% | 88.3% |
146 | Perimeter One | 18,865 | 81.6% | 81.6% | 79.9% |
147 | Perimeter Two | 19,220 | 33.0% | 30.3% | 68.3% |
148 | Perimeter Three | 22,863 | 94.5% | 96.1% | 83.2% |
149 | Perimeter Four | 16,918 | 36.2% | 32.7% | 32.7% |
San Diego, California | |||||
150 | 10020 Pacific Mesa Boulevard | 29,543 | 100.0% | 100.0% | 100.0% |
151 | 15051 Avenue of Science | 6,500 | 100.0% | 100.0% | 100.0% |
152 | 15073 Avenue of Science | 4,497 | 100.0% | 100.0% | 100.0% |
153 | 15231, 15253, 15333 Avenue of Science | 16,553 | 64.5% | 64.5% | 69.3% |
154 | 15378 Avenue of Science | 6,391 | 100.0% | 100.0% | 100.0% |
155 | 15435 & 15445 Innovation Drive | 9,508 | 89.1% | 89.1% | 93.1% |
156 | 5005 & 5010 Wateridge | 16,051 | 64.4% | 100.0% | 100.0% |
San Francisco, California | |||||
157 | 505 Brannan Street | 13,935 | 100.0% | 100.0% | 100.0% |
158 | 510 Townsend Street | 27,437 | 100.0% | 100.0% | 100.0% |
Life Sciences | |||||
San Diego, California | |||||
159 | 6055 Lusk Boulevard | 8,754 | 100.0% | 100.0% | 100.0% |
Logistics | |||||
Kansas City, Kansas/Missouri | |||||
160 | Continental Can | 15,946 | 100.0% | 100.0% | 100.0% |
161 | Crossroads Distribution Center | 16,259 | 100.0% | 100.0% | 100.0% |
162 | Lackman Business Center 1-3 | 32,337 | 100.0% | 100.0% | 82.0% |
163 | Lackman Business Center 4 | 6,800 | 100.0% | 100.0% | 0.0% |
164 | Airworld 1 | 18,580 | 0.0% | 100.0% | 100.0% |
165 | Airworld 2 | 13,961 | 100.0% | 100.0% | 100.0% |
166 | Levee | 22,125 | 100.0% | 100.0% | 100.0% |
167 | North Topping | 11,066 | 100.0% | 100.0% | 100.0% |
168 | Quebec | 28,935 | 74.3% | 100.0% | 100.0% |
169 | Saline | 11,073 | 100.0% | 100.0% | 100.0% |
170 | Warren | 23,826 | 100.0% | 100.0% | 100.0% |
Chicago, Illinois | |||||
171 | 472-482 Thomas Drive | 10,966 | 100.0% | 100.0% | 100.0% |
172 | 490 Windy Point Drive | 4,116 | 0.0% | 100.0% | 100.0% |
173 | 501 South Steward Road | 53,844 | 100.0% | 100.0% | 100.0% |
174 | 540-570 Congress Circle South | 9,385 | 100.0% | 100.0% | 100.0% |
175 | 2500 South 25thAvenue | 15,615 | 100.0% | 100.0% | 100.0% |
176 | 3950 Sussex Avenue | 4,020 | 100.0% | 100.0% | 100.0% |
177 | 13144 South Pulaski Road | 34,398 | 100.0% | 100.0% | 100.0% |
Indianapolis, Indiana | |||||
178 | DHL Indianapolis Logistics Centre6 | 91,012 | 100.0% | - | - |
United Kingdom / Europe | |||||
Logistics | |||||
East England, United Kingdom | |||||
179 | Market Garden Road | 13,016 | 100.0% | 100.0% | 100.0% |
East Midlands, United Kingdom | |||||
180 | Common Road | 47,298 | 100.0% | 100.0% | 100.0% |
181 | Units 1-5, Export Drive | 2,785 | 100.0% | 100.0% | 100.0% |
North West England, United Kingdom | |||||
182 | Astmoor Road | 45,043 | 100.0% | 100.0% | 100.0% |
183 | Transpennine 200 | 7,880 | 100.0% | 100.0% | 100.0% |
184 | Leacroft Road | 8,388 | 100.0% | 100.0% | 100.0% |
185 | Hawleys Lane | 35,104 | 100.0% | 100.0% | 100.0% |
186 | 8 Leacroft Road | 8,432 | 100.0% | 100.0% | 100.0% |
South East England,United Kingdom | |||||
187 | Howard House | 20,611 | 100.0% | 100.0% | 100.0% |
188 | Units 1-2, Tower Lane | 7,601 | 100.0% | 100.0% | 100.0% |
189 | Lodge Road | 12,025 | 100.0% | 100.0% | 100.0% |
West Midlands, United Kingdom | |||||
190 | Eastern Avenue | 15,994 | 100.0% | 100.0% | 100.0% |
191 | Vernon Road | 25,701 | 100.0% | 100.0% | 100.0% |
192 | 1 Sun Street | 24,929 | 100.0% | 100.0% | 100.0% |
193 | The Triangle | 26,074 | 100.0% | 100.0% | 100.0% |
194 | Unit 103, Stonebridge Cross Business Park | 1,233 | 100.0% | 100.0% | 100.0% |
195 | Unit 302, Stonebridge Cross Business Park | 21,499 | 100.0% | 100.0% | 100.0% |
196 | Unit 401, Stonebridge Cross Business Park | 6,265 | 100.0% | 100.0% | 100.0% |
197 | Unit 402, Stonebridge Cross Business Park | 5,037 | 100.0% | 100.0% | 100.0% |
198 | Unit 404, Stonebridge Cross Business Park | 5,045 | 100.0% | 100.0% | 100.0% |
199 | Unit 1, Wellesbourne Distribution Park | 21,243 | 100.0% | 100.0% | 100.0% |
200 | Unit 2, Wellesbourne Distribution Park | 12,282 | 100.0% | 100.0% | 100.0% |
201 | Unit 3, Wellesbourne Distribution Park | 19,552 | 100.0% | 100.0% | 100.0% |
6 DHL Indianapolis Logistics Centre was acquired on 15 Jan 2025.
202 | Unit 4, Wellesbourne Distribution Park | 4,774 | 100.0% | 100.0% | 100.0% |
203 | Unit 5, Wellesbourne Distribution Park | 6,146 | 100.0% | 100.0% | 100.0% |
204 | Unit 8, Wellesbourne Distribution Park | 8,759 | 100.0% | 100.0% | 100.0% |
205 | Unit 13, Wellesbourne Distribution Park | 5,618 | 100.0% | 100.0% | 100.0% |
206 | Unit 14, Wellesbourne Distribution Park | 9,887 | 100.0% | 100.0% | 100.0% |
207 | Unit 16, Wellesbourne Distribution Park | 1,598 | 100.0% | 100.0% | 100.0% |
208 | Unit 17, Wellesbourne Distribution Park | 971 | 100.0% | 100.0% | 100.0% |
209 | Unit 18, Wellesbourne Distribution Park | 891 | 100.0% | 100.0% | 100.0% |
210 | Unit 19, Wellesbourne Distribution Park | 891 | 100.0% | 100.0% | 100.0% |
211 | Unit 20, Wellesbourne Distribution Park | 2,335 | 100.0% | 100.0% | 100.0% |
212 | Unit 21, Wellesbourne Distribution Park | 3,064 | 100.0% | 100.0% | 100.0% |
Yorkshire and the Humber, United Kingdom | |||||
213 | 12 Park Farm Road | 23,454 | 100.0% | 100.0% | 100.0% |
214 | Units 1a, 1b, 2 & 3, Upwell Street | 14,065 | 100.0% | 100.0% | 100.0% |
215 | Unit 3, Brookfields Way | 18,341 | 100.0% | 100.0% | 100.0% |
216 | Lowfields Way | 11,549 | 100.0% | 100.0% | 100.0% |
Data Centres | |||||
Amsterdam, The Netherlands | |||||
217 | Cateringweg | 5,683 | 100.0% | 100.0% | 100.0% |
218 | Gyroscoopweg | 5,254 | 100.0% | 100.0% | 100.0% |
219 | Paul van Vlissingenstraat | 6,182 | 75.1% | 75.1% | 75.1% |
Geneva, Switzerland | |||||
220 | Chemin de L'Epinglier | 6,114 | 100.0% | 100.0% | 100.0% |
London, United Kingdom | |||||
221 | Welwyn Garden City7 | - | - | - | - |
222 | Cressex Business Park | 1,953 | 68.0% | 68.0% | 68.0% |
223 | Croydon | 5,132 | 89.5% | 89.5% | 89.5% |
224 | The Chess Building | 6,968 | 79.1% | 79.1% | 79.1% |
Manchester, United Kingdom | |||||
225 | Reynolds House | 3,532 | 100.0% | 100.0% | 100.0% |
Paris, France | |||||
226 | Montigny-le-Bretonneux | 9,714 | 100.0% | 100.0% | 100.0% |
227 | Bièvres | 5,573 | 100.0% | 100.0% | 100.0% |
228 | Saclay | 1,982 | 0.0% | 100.0% | 100.0% |
Portfolio Total | 4,784,861 | 91.8% | 92.8% | 93.1% | |
7Welwyn Garden City was decommissioned for redevelopment in Jun 2024.
Table 2: CapitaLand Ascendas REIT Singapore gross rental rates for the six months ended 30 June 2025Sector | CapitaLand Ascendas REIT's (psf per month) | Market (1) (psf per month) | ||
Range | Weighted Average (2) | Median | ||
Business & Science Park Properties (Rest of island) | $2.35 - $5.62 | $4.19 | $4.34 | $3.55 |
Business & Science Park Properties (City fringe) | $3.99 - $8.50 | $6.74 | $6.16 | $6.10 |
Industrial & Data Centres | $1.39 - $6.61 | $3.18 | $2.34 | $1.41 - $1.81(3) |
Logistics | $1.04 - $3.22 | S$1.71 | $1.70 | $1.38 - $1.90 |
Notes:
Source: CBRE Q2 2025 data
CapitaLand Ascendas REIT's rates are based on the weighted average of gross rental rates for new leases, expansions, and renewals
Refers to Light Industrial Properties
Warehouse,
12.22 mil sqm,
22.6%
Multiple User Factory,
12.62 mil
sqm, 23.4%
Total Stock (as of Q2 2025)
54.0 million sqm
Single User Factory, 26.43
mil sqm, 49.0%
Source: JTC's Second Quarter 2025 Quarterly Market Report
Table 4: Sector Performance Net Property Income (NPI) for six months ended 30 June 2025 and 30 June 2024Group (1) | |||||
Actual 1H 2025 | Actual 1H 2024 | Variance | Variance | ||
S$'000 | S$'000 | S$'000 | % | ||
SINGAPORE (2) | Notes | ||||
Gross Revenue | |||||
Business Space and Life Sciences | 214,999 | 211,354 | 3,645 | 1.7% | |
Industrial and Data Centres | 184,474 | 194,909 | (10,435) | (5.4%) | |
Logistics | 98,566 | 93,787 | 4,779 | 5.1% | |
498,039 | 500,050 | (2,011) | (0.4%) | ||
Property Expenses | |||||
Business Space and Life Sciences | (58,222) | (62,297) | 4,075 | 6.5% | |
Industrial and Data Centres | (50,596) | (57,379) | 6,783 | 11.8% | |
Logistics | (30,066) | (29,287) | (779) | (2.7%) | |
(138,884) | (148,963) | 10,079 | 6.8% | ||
Net Property Income | |||||
Business Space and Life Sciences | 156,777 | 149,057 | 7,720 | 5.2% | |
Industrial and Data Centres | 133,878 | 137,530 | (3,652) | (2.7%) | |
Logistics | 68,500 | 64,500 | 4,000 | 6.2% | |
(2) | 359,155 | 351,087 | 8,068 | 2.3% | |
AUSTRALIA | |||||
Gross Revenue | 65,012 | 73,099 | (8,087) | (11.1%) | |
Property Expenses | (19,867) | (18,759) | (1,108) | (5.9%) | |
Net Property Income | (3) | 45,145 | 54,340 | (9,195) | (16.9%) |
UK/EUROPE | |||||
Gross Revenue | 86,626 | 94,459 | (7,833) | (8.3%) | |
Property Expenses | (38,327) | (40,790) | 2,463 | 6.0% | |
Net Property Income | (4) | 48,299 | 53,669 | (5,370) | (10.0%) |
UNITED STATES | |||||
Gross Revenue | 105,074 | 102,459 | 2,615 | 2.6% | |
Property Expenses | (34,256) | (33,140) | (1,116) | (3.4%) | |
Net Property Income | 70,818 | 69,319 | 1,499 | 2.2% | |
Total Net Property Income | 523,417 | 528,415 | (4,998) | (0.9%) | |
The Group has 229 properties as at 30 June 2025 and 30 June 2024. Since 30 June 2024, the Group had completed the acquisitions of (i) land for the development of Summerville Logistics Center, Charleston, US in November 2024; (ii) DHL Indianapolis Logistics Center, Indianapolis, US in January 2025; and the divestments of (i) 21 Jalan Buroh, Singapore in November 2024; and (ii) Parkside, Portland, US in June 2025.
Increase in net property income is mainly due to lower operating expenses, partially offset by the divestment of 21 Jalan Buroh in November 2024.
Decrease in net property income is largely due to the divestments of 77 Logistics Place, 62 Sandstone Place and 92 Sandstone Place, Brisbane, Australia in February 2024, and lower occupancies at certain properties.
Decrease in net property income is mainly due to lower occupancies and higher operating expenses at certain properties.
Logistics & Supply Chain Management
Engineering Biomedical Sciences
Information & Communications Technology
Electronics Data centres Government Financial Services
Distributors & Trading Company
Food & Beverages
Retail e-Commerce
Media Chemical Professional Services
Education Natural Resources / Energy / Utilities
Textile & Garments
Real Estate IO/NGOs/NPOs
FMCG
Agriculture Hospitality & Leisure
4.8%
4.0%
3.9%
3.5%
2.5%
2.0%
1.8%
1.1%
0.8%
0.7%
0.5%
0.3%
0.2%
0.2%
0.1%
6.0%
5.9%
8.7%
8.7%
8.7%
10.4%
12.8%
12.3%
Figure 5b: CapitaLand Ascendas REIT Portfolio by Gross Revenue -Tenants' Country of OriginUnited States Singapore United Kingdom
Australia Japan Germany France Switzerland Hong Kong
China Taiwan Netherlands
India Norway Canada
Italy Ireland Malaysia Others
4.8%
4.6%
2.5%
2.2%
1.6%
1.5%
0.7%
0.6%
0.5%
0.5%
0.5%
0.3%
0.2%
0.2%
1.0%
8.7%
8.5%
31.2%
29.9%
Figure 6a: Singapore Portfolio by Gross Revenue - Tenants' Industry Mix12.6%
10.0%
9.2%
7.5%
6.9%
5.3%
5.0%
4.5%
4.0%
3.5%
3.1%
1.8%
1.5%
0.9%
0.7%
0.4%
0.2%
0.2%
0.2%
0.1%
0.1%
Engineering Electronics Biomedical Sciences
Logistics & Supply Chain Management
Government Information & Communications Technology
Data centres e-Commerce Food & Beverages
Retail Chemical
Distributors & Trading Company
Professional Services
Education
Media Real Estate
FMCG
Natural Resources / Energy / Utilities
Hospitality & Leisure
Agriculture IO/NGOs/NPOs Textile & Garments
22.1%
Figure 6b: Singapore Portfolio by Gross Revenue - Tenants' Country of Origin22.8%
6.7%
6.1%
3.1%
2.5%
2.1%
1.6%
1.1%
1.1%
0.8%
0.7%
0.7%
0.7%
0.5%
0.3%
0.3%
0.2%
0.2%
0.2%
0.2%
0.2%
1.1%
Singapore United States
Japan Germany Switzerland Hong Kong
China France
United Kingdom
Taiwan Netherlands
Norway Canada Australia
Italy Ireland Malaysia Sweden Finland India Denmark Belgium Others
46.8%
Figure 7a: United States Portfolio by Gross Revenue: Tenant Industry Mix22.3%
11.4%
10.3%
9.0%
4.7%
3.9%
2.6%
2.3%
2.0%
1.6%
1.2%
0.5%
0.4%
0.4%
0.3%
0.2%
Information & Communications Technology
Biomedical Sciences
Engineering
Media Logistics & Supply Chain Management
Financial Services Natural Resources / Energy / Utilities
Electronics Distributors & Trading Company
Professional Services
Government Food & Beverages
Retail Textile & Garments
Education Real Estate Construction
26.8%
Figure 7b: United States Portfolio by Gross Revenue - Tenants' Country of Origin1.1%
0.3%
0.2%
0.1%
0.1%
United States 98.2%
France
United Kingdom
India
Netherlands
Taiwan
Figure 8a: Australia Portfolio by Gross Revenue - Tenant Industry Mix16.4%
8.9%
6.5%
5.4%
5.0%
5.4%
4.4%
4.3%
2.8%
3.6%
1.9%
0.5%
0.3%
0.4%
0.4%
0.2%
0.1%
Logistics & Supply Chain Management Distributors & Trading Company
Government Biomedical Sciences Food & Beverages Textile & Garments
Retail Media Engineering
Professional Services Information & Communications Technology
IO/NGOs/NPOs
Education Real Estate Electronics
Natural Resources / Energy / Utilities
Financial Services
Agriculture
33.5%
Figure 8b: Australia Portfolio by Gross Revenue - Tenants' Country of OriginAustralia 75.4%
United States | 11.6% | |
Japan | 4.4% | |
France | 4.0% | |
Switzerland | 2.0% | |
China | 1.2% | |
Netherlands | 0.7% | |
Denmark | 0.3% | |
Italy | 0.2% | |
New Zealand | 0.1% | |
Canada | 0.1% |
18.5%
11.6%
4.7%
3.9%
2.2%
1.6%
0.7%
0.3%
0.3%
Data centres 56.2%
Logistics & Supply Chain Management
Engineering
Distributors & Trading Company
Retail
Electronics
e-Commerce
Food & Beverages
Hospitality & Leisure
IO/NGOs/NPOs
Figure 9b: United Kingdom/Europe Portfolio by Gross Revenue - Tenants' Country of Origin8.8%
7.9%
6.1%
2.9%
1.0%
0.6%
United Kingdom 72.7%
United States
France
Germany
India
Australia
Japan
Note: IO/NGOs/NPOs refers to international organisations/non-government organisations/non-profit organisations.