CapitaLand Ascendas REIT
SGX-TWSE Singapore REITs
Investment Conference
16 May 2024
Aperia, Singapore
Agenda | ||
03 | ||
Overview | ||
13 | ||
Key Highlights | ||
15 | ||
Investment Management | ||
17 | ||
Capital Management | ||
22 | ||
Asset Management | ||
37 | ||
Market Outlook | ||
44 | ||
Portfolio Resilience & Sustainability | ||
52 | ||
Appendix: | ||
- | Singapore Occupancy | |
- | (CLAR vs Industrial Average) | |
The Shugart, Singapore | Average Market Rents | |
- | Singapore Industrial Market - New Supply | |
Disclaimers
- This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other developments or companies, shifts in customer demands, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training, property operating expenses), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business.
- You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management regarding future events. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither CapitaLand Ascendas REIT Management Limited ("Manager") nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use of, reliance on or distribution of this presentation or its contents or otherwise arising in connection with this presentation.
- The past performance of CapitaLand Ascendas REIT ("CLAR") is not indicative of future performance. The listing of the units in the CapitaLand Ascendas REIT ("Units") on the Singapore Exchange Securities Trading Limited (the "SGX-ST") does not guarantee a liquid market for the Units. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST.
- This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.
Capi t aLand Ascendas REI T | 3 |
Capi t aLand Ascendas REI T | Source: Bloomberg, latest available company |
financial statements |
4
Diversified
Industrial
Data Centre
Retail
Commercial
Hospitality Healthcare
S$m | |||||||||||||||||||||||||||||
OUE REIT | 917 | ||||||||||||||||||||||||||||
Cromwell European Reit | 1,131 | ||||||||||||||||||||||||||||
CapitaLand China Trust | 1,253 | ||||||||||||||||||||||||||||
Lendlease Global Commercial REIT | 1,378 | ||||||||||||||||||||||||||||
Suntec REIT | 3,142 | ||||||||||||||||||||||||||||
Frasers Logistics & Commercial Trust | 3,976 | ||||||||||||||||||||||||||||
Mapletree Pan Asia Commercial Trust | 6,724 | ||||||||||||||||||||||||||||
CapitaLand Integrated Commercial Trust | 13,328 | ||||||||||||||||||||||||||||
Sabana REIT | 405 | ||||||||||||||||||||||||||||
Daiwa House Logistics Trust | 411 | ||||||||||||||||||||||||||||
AIMS APAC REIT | 1,038 | ||||||||||||||||||||||||||||
CapitaLand India Trust | 1,405 | ||||||||||||||||||||||||||||
ESR-LOGOS REIT | 2,268 | ||||||||||||||||||||||||||||
Mapletree Logistics Trust | 7,291 | ||||||||||||||||||||||||||||
CapitaLand Ascendas REIT | 12,170 | ||||||||||||||||||||||||||||
Digital Core REIT | 1,060 | ||||||||||||||||||||||||||||
Keppel DC REIT | 2,980 | ||||||||||||||||||||||||||||
Mapletree Industrial Trust | 6,632 | ||||||||||||||||||||||||||||
Dasin Retail Trust | 23 | ||||||||||||||||||||||||||||
LippoMalls Indo REIT | 100 | ||||||||||||||||||||||||||||
BHG Retail REIT | 252 | ||||||||||||||||||||||||||||
United Hampshire US Reit | 343 | ||||||||||||||||||||||||||||
Sasseur REIT | 853 | ||||||||||||||||||||||||||||
Starhill Global REIT | 1,086 | ||||||||||||||||||||||||||||
Paragon REIT | 2,373 | ||||||||||||||||||||||||||||
Frasers Centrepoint Trust | 3,954 | ||||||||||||||||||||||||||||
Manulife US REIT | 185 | ||||||||||||||||||||||||||||
Keppel Pacific Oak US REIT | 214 | ||||||||||||||||||||||||||||
Elite Commercial Reit | 240 | ||||||||||||||||||||||||||||
Prime US REIT | 240 | ||||||||||||||||||||||||||||
IREIT Global | 471 | ||||||||||||||||||||||||||||
Keppel REIT | 3,311 | ||||||||||||||||||||||||||||
ARA US Hospitality Trust | 223 | ||||||||||||||||||||||||||||
Frasers Hospitality Trust | 886 | ||||||||||||||||||||||||||||
CDL Hospitality Trust | 1,272 | ||||||||||||||||||||||||||||
Far East Hospitality Trust | 1,283 | ||||||||||||||||||||||||||||
CapitaLand Ascott Trust | 3,568 | ||||||||||||||||||||||||||||
First REIT | 541 | ||||||||||||||||||||||||||||
Parkway Life | 2,118 | ||||||||||||||||||||||||||||
Market Capitalisation (As at 31 | S-REITs Ranked by |
Mar 2024) | Industry |
and Size |
Over 20 Years of Par Excellence
SG-Only REIT | SG-focused REIT + International Exposure | |
2015 | 2019 | |
2018 | ||
2002 |
2021
Initial Public Offering
Nov 2002:
5x oversubscribed at an issue
price of S$0.88 per unit.
Entry into | ||||||||
Entry into Australia | ||||||||
The United States | ||||||||
Oct/Nov 2015: | ||||||||
Dec 2019: | ||||||||
26 logistics properties | Entry into | |||||||
28 Business Parks | ||||||||
(S$1.0b) | Entry into Europe | |||||||
The United Kingdom | (S$1.3b) | |||||||
Aug/Sep 2018: | Mar 2021: | |||||||
11 Data Centres in UK, | ||||||||
38 logistics properties | ||||||||
Netherlands, France & | ||||||||
(S$0.8b) | ||||||||
Switzerland (S$0.9b) | ||||||||
TOTAL INVESTMENT | S$0.6 billion | S$8.2 billion | S$16.9 billion |
PROPERTIES | |||
As at 31 Mar 2024 | |||
Capi t aLand Ascendas REI T | 5 |
CapitaLand Ascendas REIT
A global REIT anchored in Singapore, with a multi-asset portfolio in developed markets that caters to a diverse mix of industries.
United States | Singapore |
United Kingdom / | |
Europe |
Australia
Investment Properties
~ S$17 b
Market Capitalisation
~ S$12 b
As at 31 Mar 2024
Capi t aLand Ascendas REI T | 6 |
Diversified Portfolio Across Developed Markets
Investment Properties stood at S$16.9 b (1) | 64% Singapore | |
as at 31 Mar 2024 |
- Singapore: S$10.8 b
12% United States
o United States: S$2.1 b
Asset Value
o Australia: S$2.2 b | S$16.9 b (1) |
13% Australia
- United Kingdom/Europe: S$1.8 b
11% United Kingdom/Europe
(1) Comprises 227 properties, which excludes two properties in Singapore which are under redevelopment. Multi-tenant buildings account for 67.0% of CapitaLand Ascendas REIT's total investment properties (by asset value) as at 31 Mar 2024.
Capi t aLand Ascendas REI T | 1Q 2024 Business Updates | 7 |
Multi-Asset Portfolio
Steering Towards Growth Sectors
Steering our portfolio towards asset classes that cater to the changing market and tenant requirements arising from structural trends and changing consumption patterns such as digitalisation and e-commerce.
- Business Space and Life Sciences (2): S$7.7 b
- Logistics (3): S$4.3 b
- Industrial and Data Centres (4): S$4.9 b
45%, Business Space and Life Sciences
Business Space | ||
37% | ||
26%, Logistics | ||
Logistics | Asset value | |
26% | ||
S$16.9 b (1) | ||
Life Sciences | ||
Data | 8% | |
29%, Industrial and Data Centres | ||
Centres | ||
9% | Industrial | |
20% |
- Comprises 227 properties, which excludes two properties in Singapore which are under redevelopment. Multi-tenant buildings account for 67.0% of CapitaLand Ascendas REIT's total investment properties (by asset value) as at 31 Mar 2024.
- Business Space and Life Sciences properties are in Singapore (31%), the US (10%) and Australia (4%).
- Logistics properties are in Singapore (10%), Australia (9%), UK (5%) and the US (2%).
- Data centres are in Singapore (3%) and UK/Europe (6%).
Capi t aLand Ascendas REI T | 1Q 2024 Busi ness Updat es | 8 |
Singapore: 97 properties
Breakdown by Asset Class
Life
Sciences,
Properties are well-located along major
expressways, airport, seaport and proximity to
MRT stations
11%
Logistics,
15%
Business | Investment |
Properties | |
Space, 38% | |
S$10.8b* |
Industrial,
31%
Data
Centre,
5%
As at 31 Mar 2024
* Excludes two properties which are under redevelopment.
Capi t aLand Ascendas REI T
Green Buildings
(BCA Green Mark Certifications
as at 31 December 2023)
Business Space and Life Sciences (979,130 sqm)
Industrial and Data Centres (1,310,674 sqm)
Logistics (928,744 sqm)
Note: Refers to Gross Floor Area
9
United States: 48 Properties
30 Business Spaces, 18 Logistics | ||||||||||
Kansas City, | 200,908 sqm | |||||||||
Breakdown by Geography | Kansas / Missouri | |||||||||
Portland, Oregon 107,323 sqm | ||||||||||
11 Logistics properties | ||||||||||
San Francisco, | 15 Business Space properties | |||||||||
32% | ||||||||||
Chicago, | 132,344 sqm | |||||||||
Illinois | ||||||||||
Kansas | 7 Logistics properties | |||||||||
Investment | ||||||||||
Raleigh, | City, 9% | |||||||||
Properties | ||||||||||
15% | Chicago, | |||||||||
S$2.1b | ||||||||||
6% | ||||||||||
Portland, | ||||||||||
11% | ||||||||||
San Diego, | ||||||||||
27% | ||||||||||
Breakdown by Asset Class | ||||||||||
Life | ||||||||||
Science, | ||||||||||
7.0% | ||||||||||
Logistics, | ||||||||||
16% | San Francisco, California 41,372 sqm | |||||||||
Investment | ||||||||||
2 Business Space properties | Raleigh, North Carolina | 112,378 sqm | ||||||||
Properties | ||||||||||
5 Business Space properties | ||||||||||
S$2.1b | ||||||||||
San Diego, California | 97,826 sqm | |||||||||
Business | 8 Business Space properties | Note: Refers to Gross Floor Area | ||||||||
Space, | ||||||||||
As at 31 Mar 2024
77%
Capi t aLand Ascendas REI T | 10 |
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Disclaimer
CapitaLand Ascendas Real Estate Investment Trust published this content on 16 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2024 01:37:08 UTC.