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It saw 21 of its properties close temporarily during the pandemic.
Ascott Residence Trust’s (ART) distributable income crashed 56% YoY to $32.6m in H1, from $74.6m in H1 2019, the company revealed in a news release. Revenue fell 16% to $208.5m over the same period.
This was mainly attributed to the drop in contributions from selling Ascott Raffles Place Singapore and Somerset West Lake Hanoi, as well as weaker revenue from the existing portfolio.
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Previous news selection
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About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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