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S'pore A-REIT says property revalued 14 pct higher

Wed Mar 26, 2008 7:19pm EDT

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SINGAPORE, March 27 (Reuters) - Singapore's Ascendas Real Estate Investment Trust (A-REIT) (AEMN.SI) said on Thursday that it will book an unrealised revaluation gain of S$483.6 million ($350.4 million) on its 80 properties, an increase of about 14.2 percent.

The higher valuation was due to significant improvement in the industrial property market, "which led to higher occupancy and good rental rates improvement across the portfolio", A-REIT said in a statement. (Reporting by Daryl Loo; Editing by Michael Urquhart)



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