Meanwhile, property expenses for the period increased 36.7 per cent to S$11.7 million from S$8.5 million in the year-ago period.
The Reit manager said the company had capitalised on strong demand for data centre space by undertaking proactive asset management initiatives to improve portfolio occupancy. The Reit also has an aggregate leverage of 36.2 per cent, which gives it"comfortable debt headroom" for acquisition growth and asset enhancement initiatives.
While the manager acknowledged that the resilience and rapid growth of the DC market have attracted more competition for assets and capital, the barriers of entry for the sector remain high, especially for quality co-location assets.
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