ESR-REIT’s distribution per unit in 1HFY2021 for the six months to June 30 rose 14.3% y-o-y to 1.554 cents on higher gross revenue of $119.8 million, up 5.4% y-o-y, and lower property expenses. Other expenses such as interest expense fell by 7.4% y-o-y, helped by lower debt costs of 3.24% p.a. In March, the REIT’s manager refinanced FY2021’s debt tower with an unsecured loan facility of $320 million.

During a results briefing on July 23, Adrian Chui, CEO of ESR-REIT’s manager reiterated his three-pronged strategy of organic growth, acquisition growth and capital management.  For organic growth, the REIT’s manager will maintain operational stability, manage expenses, unertake AEIs and/or redvelopment of existing properties so they are future-ready for industrialists’ use.

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