Ascendas REIT - Annual Report 2021

The Manager’s Review of FY2021 Overview of Portfolio Occupancy 100.0% 80.0% 60.0% 40.0% 30.0% 90.0% 70.0% 50.0% 20.0% 10.0% 0.0% 31 Dec 2021 31 Dec 2020 Singapore Australia USA UK/Europe Total Occupancy As at 31 December 2021, Ascendas Reit’s overall portfolio occupancy rate rose to 93.2% (from 91.7% as at 31 December 2020). The occupancy rate of the Singapore portfolio climbed to 90.2% from 88.4% (as at 31 December 2020) mainly attributable to improved occupancy of the Business & Science Park segment. Properties which achieved higher occupancies included Nucleos (31 December 2021: 98.4% versus 31 December 2020: 92.9%), The Capricorn (31 December 2021: 85.7% versus 31 December 2020: 63.3% ) and The Aries, Sparkle & Gemini (31 December 2021: 92.9% versus 31 December 2020: 84.2%). The completion of Grab Headquarters (100% occupancy) and the acquisition of Galaxis (31 December 2021: 97.0%) also contributed to the segment’s higher occupancy rate. In addition, there were occupancy improvements in some properties from the Light Industrial and Flatted Factories segment. These included 31 Joo Koon Circle (31 December 2021: 100% versus 31 December 2020: 0%) and Techplace I (31 December 2021: 97.8% versus 31 December 2020: 86.6%). In the Logistics & Distribution Centres segment, properties which recorded occupancy improvements included 21 Changi South Avenue 2 (31 December 2021: 100% versus 31 December 2020: 36.1%) and Xilin Districentre A & B (31 December 2021: 100% versus 31 December 2020: 83%). The divestment of 11 Changi North Way (0% occupancy rate) also contributed to the higher occupancy rate. The overseas portfolio occupancy rates remained healthy at 99.2% for Australia (from 97.4% as at 31 December 2020), 94.5% for the USA (from 92.9% as at 31 December 2020) and 96.7% for the UK/Europe (from 97.5% as at 31 December 2020). 90.2% 88.4% 99.2% 97.4% 94.5% 92.9% 96.7%97.5% 93.2% 91.7% Annual Report 2021 51