A-REIT sets record high occupancy rate of 98.7% in 3Q FY2007/08

17 January 2008, Singapore – Ascendas Real Estate Investment Trust (“A-REIT”) has renewed and signed new leases (including expansions) amounting to a total net lettable area of 46,933 sqm for the three months ended 31 December 2007 (the “Period”). These leases represent 6.8% of the net lettable area of its multi-tenanted buildings(1) and an annualised rental income of S$11.1 million for A-REIT.

The overall portfolio occupancy rate increased to a record high of 98.7% as at 31 December 2007 compared to 96.1% a year ago. Occupancy rate for A-REIT’s multi-tenanted buildings has also increased to 97.0% at the end of the Period versus 96.2% as at 30 September 2007. Total new leases (including expansions) for the Period were 16,961 sqm, of which 28.7% was in Business and Science Parks, and 32.8% was in Hi-Tech Industrial properties. The remaining 38.6% was in the other two sectors – Light Industrial & Flatted Factories and Logistics & Distribution Centres.

A-REIT’s portfolio comprises 51% multi-tenanted buildings and 49% sale-and-leaseback properties based on portfolio value.