ASCENDAS REAL ESTATE INV TRUST (SGX:A17U)
Ascendas REIT - ESG ~ Building For The Future
Future-proofing assets, sustaining growth
- Ascendas REIT (SGX:A17U) is the first and largest listed industrial S-REIT that has scaled up its portfolio, to 197 properties across four developed markets – Singapore, Australia, UK and US. Its diversified AUM underpins sustainability and growth in returns, while its strong balance sheet should support DPU upside from its sponsor’s growing Singapore business park pipeline and further overseas bolt-on deals.
- Ascendas REIT is leveraging AEIs, technology, and partnerships across its expanding AUM, to deepen its real estate know-how and accelerate its environmental and social initiatives.
Diversifying AUM, scaling up via deals
- Acquisitions have helped diversify its growth engines, while raising the proportion of freehold assets to 29.3% of its AUM. The 28 business park assets in the US that were added in 2019 are well-positioned in its high-growth tech-cities, while its 38 UK logistics properties are leveraged to rising e-commerce penetration.
- Its expansion in Australia to 32 logistics and suburban office properties is supported by large domestic markets, while additions in Singapore have further entrenched its market leadership in the business and science park segment.
Intensifying green efforts
- Efforts have been stepped up to lower energy intensity and the carbon footprint of its Singapore buildings; 21,000 new solar panels at six properties now generate > 10,000 MWh of renewable energy pa, and this looks set to grow.
- Ascendas REIT's build-to-suit housing Grab’s headquarters will utilise recycled building materials and a low emissive glass façade to reduce solar heat gain, while the iQuest@IBP redevelopment embraces climate responsive design, as well as energy saving and smart building systems that meet the highest BCA Green Mark Platinum standard.
Expanding social space via AEIs, technology
- Ascendas REIT's community-centred initiatives have grown from AEIs, and expansion of flexible workspaces across its portfolio. Its parent Ascendas-Singbridge is leading efforts to deepen real estate capabilities; the launch of its Smart Urban Co-innovation Lab (with Infocomm Media Development Authority and Enterprise Singapore) within the Singapore Science Park leverages technology to accelerate collaborations on its intelligent estates, smart mobility, digital wellness and agritech programmes.
- See Ascendas REIT Share Price; Ascendas REIT Target Price; Ascendas REIT Analyst Reports; Ascendas REIT Dividend History; Ascendas REIT Announcements; Ascendas REIT Latest News.
Chua Su Tye
Maybank Kim Eng Research
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https://www.maybank-ke.com.sg/
2020-07-16
SGX Stock
Analyst Report
3.350
SAME
3.350
