ESR-LOGOS REIT has provided a hint of where rents for its assets might be heading in 2023, after it recorded a stellar 11.8% reversion in 2022.
The REIT reported on 30 January that its full-year gross revenue for FY2022 came in at SGD343.2 million, an increase of 42.3% year-on-year.
Evidently, a substantial contributor to this rise is the REIT’s merger with ARA Logistics Trust, which took place during the financial year.
But notwithstanding this and the low-base effect from the COVID-19 period, the reversion of 11.8% is still among the highest recorded among Singapore industrial REITs for the reporting period.
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