Beh Siew Kim, CEO of Ascott REIT's manager, at the briefing on 29 January. (Photo: REITsWeek)

Ascott Residence Trust (Ascott REIT) will focus on growing its portfolio in 2019, and has dropped hints on markets that it may be expanding into for the year.

Details of these plans were revealed in a briefing for analysts and media representatives on 29 January, which was held to discuss the REIT’s performance in FY 2018.

Ascott REIT has reported a distribution per unit (DPU) of 2.15 Singapore cents for its 4Q 2018, an increase of 5% year-on-year.

Revenue grew 2% to SGD136.5 million (USD101 million), while gross profit for the period increased 3% to SGD63.4 million.

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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.