A-REIT gained profit of $307.6mn
This represents an appreciation of approximately 6.3 per cent, said A-REIT.
DTZ, CBRE, Colliers, Cushman and Jones Lang LaSalle have completed their respective independent annual valuation for the 92 properties in A-REIT's portfolio.
According to A-REIT, the industrial property market has shown signs of uplift - improvement of occupancy and rental rates. This resulted to the $307.6 million net unrealized appreciation on revaluation of the investment properties over A-REIT's book value as at 31 December 2010.
These valuations will be reflected in the financial statements of A-REIT for the year ended 31 March 2011.
Post revaluation, the NAV and aggregate leverage based on 31 December 2010 balance sheet will be S$1.77 per unit and 32.6% respectively.
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