Data from AIMS APAC REIT's latest disclosure has been updated into the Singapore REITs table.
AIMS APAC REIT delivered its strongest net property income (NPI) growth in five years for the full year ended 31 March 2026, with NPI climbing 5.7% year-on-year to SGD141.3 million, outpacing revenue growth by a wide margin as the REIT brought property expenses under tighter control.
Gross revenue rose a more modest 2.2% to SGD190.7 million over the same period, continuing a trend of decelerating top-line growth from the 5.3% recorded in FY2024 and the 18.7% surge in FY2023.
The widening gap between revenue and NPI growth suggests the REIT has made meaningful inroads in reducing operating costs across its 28-property portfolio spanning Singapore and Australia.
Distribution per unit (DPU) rose 2.6% to 9.850 Singapore cents for the full year, with the fourth-quarter distribution of 2.600 Singapore cents scheduled for payment on 29 June 2026.
Distributions to unitholders grew 3.1% to SGD80.6 million.
On the capital management front, aggregate leverage fell to 26.8% from 28.9% a year earlier, aided by the issuance of SGD150 million in subordinated perpetual securities in January 2026 and a further SGD100 million tranche in March 2026.
The blended cost of debt improved to 4.1% from 4.3%, even as 80% of borrowings remain on fixed rates.
The weighted average debt maturity stood at 2.2 years, down from 3.0 years, with the REIT in active discussions with lenders on refinancing its FY2027 obligations.
Portfolio occupancy held steady at 93.6% as at 31 March 2026, unchanged from a year ago, though the figure rises to 96.8% when committed leases are included.
The occupancy rate remains 3.8 percentage points above the JTC national average of 88.9%.
The weighted average lease expiry (WALE) shortened to 4.0 years from 4.4 years, reflecting natural lease roll as the portfolio matures, with more than half of all lease expiries extending beyond FY2030.
Net asset value per unit rose to SGD1.28 from SGD1.23, supported by a 5.9% increase in total portfolio valuation to SGD2.25 billion.
AIMS APAC REIT was last done on the Singapore Exchange at SGD1.52, which presently implies a distribution yield of 6.48% according to data on the Singapore REITs table.
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