315 Alexandra Road (AIMS APAC REIT)315 Alexandra Road (AIMS APAC REIT)

AIMS APAC REIT disclosed on 7 May that its gross revenue for FY2024 came in at SGD177.3 million.

This is an increase of 5.9% when compared to what was reported in FY2023.

As a result, its net property income (NPI) for FY2024 increased by 6.9% year-on-year to SGD131.0 million.

However, distribution per unit (DPU) for the year declined by 5.9% to 9.360 Singapore cents owing to the enlarged unit base.

This was due to an equity fund raising that was completed in July 2023.

As at 31 March 2024, the REIT’s overall portfolio occupancy was at 97.8%.

Its aggregate leverage stood at 32.6%.

AIMS APAC REIT was last done on the Singapore Exchange at SGD1.27, which presently implies a distribution yield of 7.28% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.