Elite Commercial REIT revenue surges in Q1, due to 100% occupancy

Revenue was further boosted by the acquisition of 58 commercial properties in the UK.

Elite Commercial REIT reported earnings of $12.15m (£6.6m) in Q1 2021, mainly boosted by its newly acquired portfolio of 58 commercial properties in the UK.

The company’s earnings were 15.1% higher than the forecast of $10.55m (£5.73m).

Elite Commercial REIT Management Pte. Ltd., the manager of Elite Commercial REIT said that they completed the $391.23m (£212.5m) acquisition of 58 commercial properties in the UK on 9 March 2021.

According to Shaldine Wang chief executive officer of Elite Commercial REIT Management, the completion of the acquisition has set the number of assets in the group’s portfolio to 155 properties and market capitalisation by 39%.

“Our enlarged portfolio is fully occupied, 97% freehold with long WALE and generating strong cashflows, which is consistent with our investment strategy. Furthermore, we diversified our occupier mix to include other UK government agencies, apart from the Department for Work and Pensions,” Wang added.

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit