CapitaLand Ascendas REIT - Annual Report 2025

Front Cover Page	1
Contents	2
Overview	2
About Us	2
2025 Highlights	4
Financial Highlights	4
Milestones	6
Structure	6
ESG Highlights	8
Chairman & CEO Message	10
What CLAR Invests In	12
Board of Directors	12
Management Team	16
The Asset, Property & Project Managers	18
Strategy	18
Performance	20
The Manager’s Review of FY 2025	20
Investor Relations	40
CLAR’s Portfolio	42
Business Space & Life Sciences Properties (Singapore)	46
Industrial Properties & Data Centres (Singapore)	50
Logistics Properties (Singapore)	54
Logistics Properties (Australia)	56
Business Space Properties (Australia)	60
Business Space & Life Sciences Properties (US)	62
Logistics Properties (US)	66
Logistics Properties (UK/Europe)	68
Data Centres (UK/Europe)	72
Governance	74
Corporate Governance	74
Risk Management	100
Sustainability Management	106
Financial Statements	106
Financial Report FY 2025	108
Other Information	202
Statistics of Unitholdings	202
Additional Information	206
Appendix	208
Corporate Information	210
Back Cover Page	212

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