Ascendas REIT' property in Science Park, The Kendall (Photo by Ascendas REIT)Ascendas REIT's property in Science Park, The Kendall (Photo by Ascendas REIT)

Singapore-listed industrial REIT, Ascendas REIT (SGX:A17U), announced on 6 August that it will now be extending its investment mandate to mature developed markets for growth opportunities.

Since listing on the Singapore Exchange in November 2002, Ascendas REIT has focused primarily on industrial properties in Singapore and more recently China.

The REIT now has a portfolio of 105 properties worth approximately SGD8.2 billion as at 30 June 2015 from its initial portfolio of eight properties worth approximately SGD636 million in 2002.

“In line with the manager’s investment strategy of owning and operating a diversified portfolio in the business space and industrial property sector that will provide investors with a stable and predictable income stream and long term growth prospects, it plans to expand its investment scope to cover new mature developed markets such as Australia and Germany”, said the REIT in the statement released 6 August.

However despite the extension of investment mandate, Ascendas REIT has emphasised that Singapore will be remain its primary focus. “Ascendas REIT’s portfolio will remain predominantly Singapore-based assets in the foreseeable future, with the manager targeting for new mature developed markets to make up approximately 20-30% of [the portfolio]”, said the REIT.

Units of Ascendas REIT are currently listed on the Singapore Exchange at SGD2.41.

Ascendas REIT' property in Science Park, The Kendall (Photo by Ascendas REIT)
Ascendas REIT' property in Science Park, The Kendall (Photo by Ascendas REIT)

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.