AIMS APAC REIT NPI up 2.1% to $133.7m in FY2025

Gross revenue also rose 5.3% YoY to $186.6m

AIMS APAC REIT (AA REIT) reported a 2.1% year-on-year (YoY) increase in net property income to $133.7m for the financial year ended 31 March 2025, driven by resilient portfolio performance and strong rental reversions.

Gross revenue also rose 5.3% YoY to $186.6m. Total distributions to unitholders increased 5.2% YoY, whilst distribution per unit climbed 2.6% YoY to $0.096.

CEO Russell Ng said the REIT’s results were achieved through disciplined strategy execution. Key milestones included securing long-term lease agreements for asset enhancement initiatives (AEIs), obtaining $400m and A$150m in Sustainability-Linked Loans, and issuing $125m in five-year perpetual securities at 4.70%.

Ng added that AA REIT’s strong balance sheet and diversified portfolio have enabled the REIT to remain resilient in a volatile environment and positioned it for future growth through targeted asset management and acquisitions.

As at 31 March 2025, AA REIT owned 28 properties valued at $2.13b. Approximately 70.9% ($1.51b) of the portfolio is located in Singapore, whilst the remaining 29.1% ($0.62b) is in Australia, including a 49% interest in Optus Centre held through a joint venture. The portfolio's overall valuation declined by 1.5% YoY ($33.1m), largely due to cap rate expansion in Australia and a weaker Australian dollar, partially offset by higher valuations in Singapore.

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