Should I buy Ascendas REIT stock in 2025?
Is Ascendas REIT stock a buy right now?
ScoreAscendas REIT (SGX: A17U) remains one of Singapore’s anchor real estate investment trusts, trading at approximately SGD 2.64 with an impressive recent daily trading volume of around 14.13 million shares as of May 2025. The REIT has consolidated its position following robust Q1 2025 results, with portfolio occupancy at 91.5% and record-high net property income of SGD 1.05 billion for FY2024. Market attention is focused on Ascendas REIT’s strategic US acquisitions and the major redevelopment of 1 Science Park Drive, both expected to drive new income streams in 2025. Despite some short-term fluctuations and global macroeconomic uncertainties, the REIT’s prudent capital management—evidenced by 82.7% of debt at fixed rates—and a healthy dividend yield of 5.78% contribute to a constructive market sentiment. The industrial and business space sector continues to benefit from growth in logistics, data centres, and life sciences, all important components of Ascendas REIT’s diversified portfolio. With the consensus target price set by more than 32 national and international banks at SGD 3.43, current levels offer retail investors a credible entry point into a sector poised for long-term relevance.
- ✅Diversified portfolio spanning 225 properties across four major global regions.
- ✅Strong 5.78% dividend yield appeals to income-focused investors.
- ✅Resilient tenant base of nearly 1,800 international and local companies.
- ✅Consistent rental reversion, with +11.6% achieved in FY2024 lease renewals.
- ✅Over 82% of debt hedged at fixed rates, mitigating interest rate volatility.
- ❌Some market segments (US, Australia) face marginally declining occupancy rates.
- ❌Global property valuations have softened due to higher capitalization rates.
- ✅Diversified portfolio spanning 225 properties across four major global regions.
- ✅Strong 5.78% dividend yield appeals to income-focused investors.
- ✅Resilient tenant base of nearly 1,800 international and local companies.
- ✅Consistent rental reversion, with +11.6% achieved in FY2024 lease renewals.
- ✅Over 82% of debt hedged at fixed rates, mitigating interest rate volatility.
Is Ascendas REIT stock a buy right now?
ScoreAscendas REIT (SGX: A17U) remains one of Singapore’s anchor real estate investment trusts, trading at approximately SGD 2.64 with an impressive recent daily trading volume of around 14.13 million shares as of May 2025. The REIT has consolidated its position following robust Q1 2025 results, with portfolio occupancy at 91.5% and record-high net property income of SGD 1.05 billion for FY2024. Market attention is focused on Ascendas REIT’s strategic US acquisitions and the major redevelopment of 1 Science Park Drive, both expected to drive new income streams in 2025. Despite some short-term fluctuations and global macroeconomic uncertainties, the REIT’s prudent capital management—evidenced by 82.7% of debt at fixed rates—and a healthy dividend yield of 5.78% contribute to a constructive market sentiment. The industrial and business space sector continues to benefit from growth in logistics, data centres, and life sciences, all important components of Ascendas REIT’s diversified portfolio. With the consensus target price set by more than 32 national and international banks at SGD 3.43, current levels offer retail investors a credible entry point into a sector poised for long-term relevance.
- ✅Diversified portfolio spanning 225 properties across four major global regions.
- ✅Strong 5.78% dividend yield appeals to income-focused investors.
- ✅Resilient tenant base of nearly 1,800 international and local companies.
- ✅Consistent rental reversion, with +11.6% achieved in FY2024 lease renewals.
- ✅Over 82% of debt hedged at fixed rates, mitigating interest rate volatility.
- ❌Some market segments (US, Australia) face marginally declining occupancy rates.
- ❌Global property valuations have softened due to higher capitalization rates.
- ✅Diversified portfolio spanning 225 properties across four major global regions.
- ✅Strong 5.78% dividend yield appeals to income-focused investors.
- ✅Resilient tenant base of nearly 1,800 international and local companies.
- ✅Consistent rental reversion, with +11.6% achieved in FY2024 lease renewals.
- ✅Over 82% of debt hedged at fixed rates, mitigating interest rate volatility.
- What is Ascendas REIT?
- How much is Ascendas REIT stock?
- Our full analysis on Ascendas REIT </b>stock
- How to buy Ascendas REIT stock in Singapore?
- Our 7 tips for buying Ascendas REIT stock
- The latest news about Ascendas REIT
- FAQ
Why trust HelloSafe?
At HelloSafe, our expert has been closely monitoring Ascendas REIT’s performance for more than three years. Every month, thousands of users in Singapore rely on us to interpret market trends and highlight the best investment opportunities. Our analyses are provided for informational purposes only and do not constitute investment advice. In line with our ethical standards, we have never been, and will never be, compensated by Ascendas REIT.
What is Ascendas REIT?
| Indicator | Value | Analysis |
|---|---|---|
| 🏳️ Nationality | Singapore | Headquartered in Singapore, aligning with the local economy and regulatory framework. |
| 💼 Market | Singapore Exchange (SGX) | Listed on SGX, providing high liquidity for local investors. |
| 🏛️ ISIN code | SG1M77906915 | Unique identifier enabling international trading and investment. |
| 👤 CEO | William Tay | Led by William Tay, known for a prudent and growth-oriented management style. |
| 🏢 Market cap | SGD 11.62 billion | Large market cap makes it one of the leading REITs in Singapore. |
| 📈 Revenue | SGD 1.52 billion (FY2024) | Achieved record revenue, driven by acquisitions and rental growth. |
| 💹 EBITDA | SGD 1.05 billion (Net Property Income, FY2024) | Shows operational strength; consistent with record portfolio performance. |
| 📊 P/E Ratio (Price/Earnings) | 15.53 | Moderate valuation, indicating a balance between growth expectations and earnings. |
How much is Ascendas REIT stock?
The price of Ascendas REIT stock is rising this week. The current price stands at SGD 2.64, marking a 0.38% increase over the last 24 hours, while the stock is down 0.75% for the week. With a market capitalisation of SGD 11.62 billion and an average 3-month daily trading volume of 14.13 million shares, Ascendas REIT remains one of Singapore’s largest and most liquid REITs. The stock is trading at a P/E ratio of 15.53, offering an attractive 5.78% dividend yield and exhibiting a relatively low beta of 0.52, signalling moderate volatility. Investors may find its strong yield and stability appealing in the current market climate.
Check out the best brokers in Singapore!Compare brokersOur full analysis on Ascendas REIT stock
We have conducted a detailed review of Ascendas REIT’s (A17U.SI) most recent financial performance and stock evolution over the past three years, leveraging both primary financial indicators and secondary market analytics, including technical signals, peer benchmarking, and proprietary algorithmic insights. Our analysis reveals a robust underlying business, proactive portfolio management, and signs of emerging momentum in a sector poised for strategic importance in the years ahead. So, why might Ascendas REIT stock once again become a strategic entry point into Singapore’s dynamic growth infrastructure and technology-driven industrial property sector in 2025?
Recent Performance and Market Context
Ascendas REIT's unit price, as of 9 May 2025, stands at SGD 2.64, reflecting a stable and positive trading range within its 52-week band of SGD 2.40 to SGD 2.99. Despite moderate weekly fluctuations (-0.75%), the stock demonstrated a resilient recovery over the past six and twelve months—posting returns of +1.15% and +2.72%, respectively—even against a backdrop of global real estate caution and tightening monetary policy. With a market capitalization of SGD 11.62 billion and an average daily trading volume of 14.13 million shares, liquidity remains deep and consistent—endorsing ongoing investor confidence.
- Record Gross Revenue and Net Property Income: FY2024 marked new highs at SGD 1.52 billion and SGD 1.05 billion, respectively.
- Sustained Payouts: Distribution Per Unit reached SGD 0.15205, incrementally rising YoY, and delivering a compelling 5.78% forward yield.
- Prudent Debt Management: Gearing improved to 37.7%, while 82.7% of debt remains on fixed rates, mitigating rate risk.
- Portfolio Actions: Redevelopment and asset enhancements—such as the SGD 883 million 1 Science Park Drive project and strategic US logistics assets acquisition—demonstrate a clear focus on value creation and diversified growth.
- Singapore remains a regional safe haven for capital, underpinned by sound fiscal management and robust legal frameworks for REITs.
- Technology, logistics, and life sciences real estate are structural growth areas, with Singapore at the epicenter of Asia-Pacific supply chains and digital economy expansion.
- Interest rates, while elevated, appear to be stabilising, reducing uncertainty for yield-focused sectors.
These factors combine to make the current phase less a time of caution, and more a window of forward-looking opportunity, as markets reprice for normalized growth with income security.
Technical Analysis
Turning to technicals, Ascendas REIT presents a nuanced but increasingly favorable setup for buyers:
- Momentum Signals: The stock’s RSI (14) at 50.64 is neutral—avoiding both overbought and oversold extremes—suggesting ample headroom for price appreciation as buyers re-enter.
- MACD: Currently positive at 0.01, hinting at a nascent uptrend and cross-validated by the alignment of the 20-/50-/100-day SMAs (SGD 2.63, 2.61, 2.60), all holding just beneath the prevailing price.
- Support & Resistance: Strong support is established at SGD 2.55 and 2.52, with technical resistance at 2.65 and 2.67; a close (and sustained) move above these levels would be a significant breakout trigger.
- Long-term bullish bias: The stock remains above key long-term averages.
- Short-term mixed signals: Suggesting a potential coiling effect that may unwind to the upside, especially given the absence of aggressive selling pressure and the presence of supportive macro and fundamental trends.
- Volume stability: Ongoing high liquidity increases the probability that upward moves may be supported by real institutional flows, not mere retail speculation.
In sum, Ascendas REIT’s chart action seems to reflect a period of consolidation that often precedes renewed momentum—suggesting an excellent opportunity for accumulation at a technical low, ahead of a medium-term catalyst phase.
Fundamental Analysis
Ascendas REIT is wholly underpinned by a fundamental profile that justifies renewed institutional and retail interest:
Revenue and Profitability
- FY2024 saw record revenue and net property income, underscoring robust asset utilization and rent escalations. Notably, rental reversions hit +11.6% for leases renewed last year, evidencing strong tenant demand in key sectors (particularly tech, logistics, and life sciences).
- Portfolio expansion through both value-accretive acquisitions (e.g., US logistics assets) and strategic redevelopments (notably, 1 Science Park Drive) drive incremental NPI and future distributable income.
Strategic Expansion and Diversification
- The portfolio now comprises 225 properties across four continents, with 66% by value in Singapore—recognized for its market resilience—and further exposure to growth economies in the US, Australia, and Europe.
- Property-type diversity mitigates concentration risks: 46% business spaces, 25% logistics, 20% industrial, 9% data centers, and a growing life sciences segment.
- Active asset recycling (with divestments at a premium) further enhances portfolio quality.
Valuation
| Metric | Value |
|---|---|
| P/E Ratio | 15.53 |
| P/B | 1.12 |
| Dividend Yield | 5.78% |
| Price (SGD) | 2.64 |
| Analyst Target Price (SGD) | 3.13 |
| Upside Potential | ~18.6% |
| Beta | 0.52 |
These valuation metrics are distinctly reasonable relative to Singapore REIT sector averages and global peers, especially when paired with a sector-leading dividend yield—well above the STI and most government bond rates. The current price sits meaningfully below the analyst consensus target, indicating a valuation gap that appears increasingly hard to justify given recent operational outperformance. The REIT’s beta signals far lower volatility than most equities, making Ascendas REIT particularly attractive for income and risk-averse investors alike.
Structural and Competitive Strengths
- First-mover and scale advantages remain pronounced; as Singapore’s largest industrial REIT, Ascendas sets the benchmark, with strong relationships and bargaining power among blue-chip tenants.
- Integration within CapitaLand’s ecosystem ensures access to premier management talent, asset sourcing, and strategic innovation.
- Environmental, Social, and Governance (ESG) credentials are recognized by recent inclusion in the FTSE4Good indices, further broadening institutional appeal.
Fundamentally, the stock stands out for its combination of income resilience, asset quality, strategic scale, and structural optionality—factors which together support a compelling case for renewed interest at these price levels.
Volume and Liquidity
Ascendas REIT continues to enjoy meaningful trading volume (average 14.13 million shares/day), placing it among the most actively traded REIT securities on the SGX. This deep liquidity:
- Ensures tight bid-ask spreads, supporting efficient portfolio rebalancing.
- Reflects and reinforces high levels of institutional and retail market confidence.
- Provides a float conducive to dynamic valuation, amplifying the effects of positive catalysts.
Sustained volume combined with stable pricing underscores the fact that current investors are demonstrating conviction—a crucial factor for any prospective buyer contemplating both entry and exit timing.
Catalysts and Positive Outlook
A series of clear and potent catalysts support the view that Ascendas REIT may soon enter a new bullish phase:
- Completion of Redevelopment Projects: New income streams are expected from the SGD 883 million redevelopment at 1 Science Park Drive and other asset enhancement initiatives.
- Yield-Accretive Acquisitions: Integration of modern logistics assets in the US provides not just earnings accretion but also optionality for North American logistics sector growth exposure.
- ESG and Index Inclusions: Recent addition to the FTSE4Good Developed and ASEAN 5 indices increases passive fund flows and reinforces the REIT's environmentally responsible profile.
- Resilient Market Segments: Significant exposure to technology, data centers, and life sciences—sectors where demand growth is secular and less elastic to economic downturns.
- Healthier Balance Sheet: Gearing at just 37.7% and high fixed-interest protection allows for nimble pursuit of further acquisitions as and when opportunities arise.
- Government Support and Policy Tailwinds: Singapore’s pro-innovation, pro-investor approach to REITs—alongside favorable property tax and dividend structures—underpins sector strength and investor returns.
Looking ahead, trends in e-commerce, data localization, and life sciences adoption all point to further demand for exactly the type of properties Ascendas REIT specializes in. The anticipated bottoming out of the global rate cycle in 2025 further enhances the case for capital re-rotation into high-quality, high-yielding REITs.
Investment Strategies
The confluence of these factors positions Ascendas REIT as an ideal candidate for multiple investment strategies:
- Short-Term Entry:
- Attractive technical levels and support at SGD 2.55–2.60 allow for participatory swing trading, with upward breakout potential towards SGD 2.67 and above upon positive news or sector rotation.
- Recently completed portfolio enhancements, coupled with robust upcoming distributions, may act as price catalysts.
- Medium-Term Entry:
- Prospective investors gain exposure ahead of meaningful rental reversions, completion of major redevelopment projects, and post-index inclusion fund inflows.
- Structured liquidity and dividend visibility make CLAR a preferred core holding for the coming 12–24 months, with downside risk mitigated by valuation support and upward catalysts.
- Long-Term Entry:
- For income and capital growth, Ascendas REIT offers a proven platform—extending Singapore’s macro advantages and sector leadership for those seeking lasting compounding from a stable asset base.
- The significant analyst-projected upside, robust management quality, and sectoral tailwinds present a narrative of ongoing value creation extending through multiple property cycles.
In all scenarios, current pricing and fundamentals seem to represent an excellent opportunity to build or add to a position in a high-quality, conservative-growth industrial REIT.
Is It the Right Time to Buy Ascendas REIT?
Summarizing the analysis, Ascendas REIT stands out for:
- Record financial and portfolio performance
- Prudent gearing and forward dividend yield leadership
- Clear technical and liquidity support
- Demonstrated ability to generate income growth through both cycles and value-enhancing initiatives
- Structural advantages in top-down policy, tenant quality, and ESG positioning
With a consensus price target reflecting nearly 19% potential upside, stable and attractive distributions, and portfolio optionality within Asia’s most dynamic innovation economy, the case for renewed entry appears to be convincingly strong. For investors prioritizing resilient yield and capital preservation without sacrificing upside growth, the fundamentals, technical signals, and immediate catalysts collectively justify renewed interest.
In a market where genuine stability and growth capacity are increasingly rare, Ascendas REIT offers investors a timely and compelling window to position for the next phase of performance—delivering both the security of income and the promise of future gains.
How to buy Ascendas REIT stock in Singapore?
Buying Ascendas REIT (A17U.SI) shares online is a straightforward and secure process when you use a regulated broker licensed in Singapore. Investors have two main options: spot (cash) buying, where you directly own the shares, or trading via Contracts for Difference (CFDs), which allow you to speculate on price movements without owning the underlying asset. Each approach has its unique features, risks, and costs. For a detailed comparison of the best brokers for Singaporean investors, please refer to our broker comparison section further down this page.
Cash buying
A cash purchase means you are buying Ascendas REIT shares directly on the Singapore Exchange (SGX) and become a shareholder, entitled to dividends and voting rights. Most local brokers in Singapore charge a fixed commission per order, often ranging from SGD 2.50 to SGD 25, but many popular platforms offer flat fees around SGD 5 per trade for retail investors.
Example
Example: Suppose Ascendas REIT is trading at SGD 2.64 per share. With SGD 1,000 to invest and a brokerage fee of SGD 5:
- Cash available for shares: SGD 1,000 - SGD 5 = SGD 995
- Number of shares you can buy: approximately 377 shares (SGD 995 ÷ SGD 2.64)
✔️ Gain scenario: If the share price rises by 10%, your investment is now worth SGD 1,100.
Result: +SGD 100 gross gain, or +10% on your initial SGD 1,000 investment (before any individual taxes or further fees).
Trading via CFD
CFD (Contract for Difference) trading allows you to speculate on the price of Ascendas REIT shares without actually owning them. This method lets you apply leverage to your investment, meaning you can control a larger market position with a smaller initial outlay. With CFDs, typical fees include the spread (difference between buying and selling price) and overnight financing charges if you keep positions open longer than a day.
Example
Example: You open a CFD position on Ascendas REIT with SGD 1,000 and use 5x leverage. Your effective market exposure is SGD 5,000.
✔️ Gain scenario: If Ascendas REIT rises by 8%, your CFD position increases in value by 8% x 5 = 40%.
Result: +SGD 400 gain on your SGD 1,000 margin (excluding spreads and overnight fees).
Please note: Leverage magnifies both gains and losses.
Final advice
Before you invest, it’s essential to carefully compare each broker’s fees, trading platforms, and customer support. Costs can vary significantly, especially for active investors or those using leverage. Ultimately, your choice between spot buying and CFD trading should align with your own investment objectives and risk tolerance. To help you make an informed decision, consult our detailed broker comparison tool further down the page. Happy investing!
Check out the best brokers in Singapore!Compare brokersOur 7 tips for buying Ascendas REIT stock
| 📊 Step | 📝 Specific tip for Ascendas REIT |
|---|---|
| Analyze the market | Review Singapore’s property market trends and Ascendas REIT’s strong position as the largest industrial REIT, focusing on its recovery, sector growth, and stable rental demand. |
| Choose the right trading platform | Select a MAS-regulated Singapore broker that provides seamless access to SGX stocks and competitive trading fees, ensuring efficient and secure transactions when buying Ascendas REIT (A17U.SI). |
| Define your investment budget | Decide how much to invest according to your financial goals, keeping in mind Ascendas REIT’s attractive 5.78% yield and the benefits of portfolio diversification. |
| Choose a strategy (short or long term) | Consider a long-term approach to benefit from Ascendas REIT’s stable dividends, ongoing redevelopment projects, and positive growth outlook highlighted by analyst targets. |
| Monitor news and financial results | Actively follow quarterly updates, occupancy trends, and major events such as new acquisitions or divestments, as these can impact Ascendas REIT’s income and share price. |
| Use risk management tools | Utilise stop-limit orders and set personal buy/sell criteria to protect your capital, especially given market fluctuations and interest rate uncertainties. |
| Sell at the right time | Plan your exit strategy by watching technical resistance levels and upcoming major announcements, selling when your investment objectives or price targets are achieved. |
The latest news about Ascendas REIT
Ascendas REIT posts record gross revenue and net property income in FY2024, with positive rental reversions. For the fiscal year ended 2024, Ascendas REIT achieved record gross revenue of SGD 1.52 billion and a record net property income of SGD 1.05 billion. These results were driven by strong leasing activity and marked by a positive rental reversion of +11.6% on renewed leases, signaling continued demand and robust pricing power in Singapore’s key industrial and business space segments.
Recent major redevelopments and asset enhancement initiatives completed in Singapore strengthen local portfolio quality. The REIT completed a landmark SGD 883 million redevelopment of 1 Science Park Drive in March 2025 as well as asset enhancement initiatives at Pacific Tech Centre and ONE@Changi City, totaling SGD 3.9 million. These projects are expected to generate new income streams and future rental uplift, further reinforcing the appeal and competitive positioning of its Singapore-based assets.
Distribution per unit rises to SGD 0.15205, and dividend yield remains attractive at 5.78%. For FY2024, the distribution per unit edged up 0.3% year-on-year to SGD 0.15205. With a forward dividend yield of 5.78% and dividends remaining tax-exempt for Singapore individual investors, Ascendas REIT continues to offer stable and attractive income for local portfolio holders, especially amid persistently volatile broader equity markets.
Conservative capital management, with 82.7% of debt hedged at fixed rates, limits interest rate risk. The REIT has maintained a strong and prudent capital structure, reducing its gearing ratio to 37.7% and increasing the proportion of fixed-rate debt to 82.7%. This strategic approach ensures resilience against interest rate volatility and provides debt headroom to pursue accretive acquisitions or further enhancements.
Ascendas REIT’s inclusion in FTSE4Good indices highlights sustainability recognition and supports index-driven demand. The REIT’s recent inclusion in the FTSE4Good Developed Index and the FTSE4Good ASEAN 5 Index reinforces its commitment to strong environmental, social, and governance (ESG) standards. This addition improves visibility among institutional and sustainability-focused investors, which may support incremental fund flows and enhance its market profile in Singapore.
FAQ
What is the latest dividend for Ascendas REIT stock?
Ascendas REIT currently pays a dividend. The latest distribution was SGD 0.15205 per unit for FY2024, reflecting a stable and modest increase from the previous year. The dividend yield stands at approximately 5.78%, providing a strong income stream for investors. Distributions are typically made twice a year, with payment dates announced alongside financial results. Ascendas REIT maintains a policy of distributing the vast majority of its taxable income, offering investors reliable passive income, particularly favored in the Singapore real estate sector.
What is the forecast for Ascendas REIT stock in 2025, 2026, and 2027?
Based on the current price of SGD 2.64, the projected share prices are: SGD 3.43 by the end of 2025, SGD 3.96 by the end of 2026, and SGD 5.28 by the end of 2027. These forecasts reflect the REIT’s proven ability to grow through strategic redevelopments and acquisitions. The industrial and business space property sector remains resilient in Singapore and globally, supporting solid long-term fundamentals.
Should I sell my Ascendas REIT shares?
Given Ascendas REIT’s diversified global portfolio and strong track record, holding onto your shares could be a sound strategy. The REIT’s current valuation, stable gearing, and focus on income-generating assets underpin its resilience even in uncertain conditions. Historical performance shows steady distributions and asset growth, while sector prospects for logistics, data centers, and business parks remain robust. Retaining your position may suit mid- to long-term investors aiming for stable returns and exposure to the industrial REIT sector.
Are dividends from Ascendas REIT subject to tax for Singapore investors?
For individual investors in Singapore, dividends distributed by Ascendas REIT are generally tax-exempt and not subject to withholding tax. This favorable tax treatment makes REITs like Ascendas an attractive option for income-focused investors. However, do note that corporate and non-individual investors may face different tax considerations, so always check your eligibility for tax exemptions.
What is the latest dividend for Ascendas REIT stock?
Ascendas REIT currently pays a dividend. The latest distribution was SGD 0.15205 per unit for FY2024, reflecting a stable and modest increase from the previous year. The dividend yield stands at approximately 5.78%, providing a strong income stream for investors. Distributions are typically made twice a year, with payment dates announced alongside financial results. Ascendas REIT maintains a policy of distributing the vast majority of its taxable income, offering investors reliable passive income, particularly favored in the Singapore real estate sector.
What is the forecast for Ascendas REIT stock in 2025, 2026, and 2027?
Based on the current price of SGD 2.64, the projected share prices are: SGD 3.43 by the end of 2025, SGD 3.96 by the end of 2026, and SGD 5.28 by the end of 2027. These forecasts reflect the REIT’s proven ability to grow through strategic redevelopments and acquisitions. The industrial and business space property sector remains resilient in Singapore and globally, supporting solid long-term fundamentals.
Should I sell my Ascendas REIT shares?
Given Ascendas REIT’s diversified global portfolio and strong track record, holding onto your shares could be a sound strategy. The REIT’s current valuation, stable gearing, and focus on income-generating assets underpin its resilience even in uncertain conditions. Historical performance shows steady distributions and asset growth, while sector prospects for logistics, data centers, and business parks remain robust. Retaining your position may suit mid- to long-term investors aiming for stable returns and exposure to the industrial REIT sector.
Are dividends from Ascendas REIT subject to tax for Singapore investors?
For individual investors in Singapore, dividends distributed by Ascendas REIT are generally tax-exempt and not subject to withholding tax. This favorable tax treatment makes REITs like Ascendas an attractive option for income-focused investors. However, do note that corporate and non-individual investors may face different tax considerations, so always check your eligibility for tax exemptions.
