See which development will underpin Ascendas India Trust's earnings growth
High hopes for this one.
Ascendas India Trust (a-itrust) will be pinning much of its earnings growth hopes in the coming years on Aviator, according to DBS.
The c.600k-sqft development (which represents c.8% of the portfolio’s net leasable area or NLA) in ITPB’s SEZ received its Occupancy Certificate on January 8 this year and is handling space over to tenants and is 100% committed.
DBS said the property is expected to contribute progressively to rental income over FY15F once tenant fit-outs complete, and will underpin a-itrust's earnings growth.
Aviator's contribution is crucial given that a-itrust have close to 28% of its NLA expiring in FY15F.
DBS expects a-itrust's leasing activities "to remain stable moving forward given strong demand for space as evidenced by the strong retention rates of >90% over the past few quarters."