Tenancies for its Australian assets have recovered strongly, hitting close to pre-Covid-19 levels, but tenancies for its Singapore assets are turning around more slowly.SPH Reit on Thursday also unveiled its multi-pronged growth strategy to provide unit holders with regular, stable distributions. The strategy includes continually optimising the tenant mix of its properties, as well as implementing asset-enhancement initiatives and proactive marketing plans, Ms Leng said.
There will also be a right of first refusal for the Reit's sponsors' future income-producing properties used primarily for retail purposes in Asia Pacific. Given the uncertainty and fluidity of the Covid-19 pandemic, the extent of its impact on SPH Reit's financial performance for the next reporting period, and the next 12 months cannot be determined at this stage, Ms Leng added.
The chairman of SPH Reit management, Leong Horn Kee, said:"We will continue to build on the strong partnerships established with our tenants, and adapt and overcome the challenges in the fast-changing retail environment."For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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