SINGAPORE (Apr 28): The manager of Ascendas REIT (A-REIT) has reported a “healthy operational performance” for 1QFY2020 ended March.

In its quarterly business update released on Tuesday, the REIT cited a “challenging leasing environment”, as well as expected delays in completion of Grab Holding’s headquarters in 1Q2021 from 4Q2020 due to the circuit breaker measures implemented by the government.

That said, that did not impact the REIT’s portfolio occupancy for 1QFY2020, which was reported at a healthy 91.7%. Its overseas portfolios in Australia, the US, and the UK, reported occupancies of 97.3%, 92.9%, and 97.5% respectively.

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