CapitaLand Ascendas Trust (CLAR) is investing in the UK logistics market with the acquisition of two freehold plots of land to build four logistics properties, for about $350.1 million:

When completed, the Proposed Developments will grow the UK logistics portfolio to 42 investment properties and increase the assets under management (“AUM”) value by 43.5% to approximately S$1.2 billion. CLAR’s UK portfolio will also increase by 27.2% to approximately S$1.6 billion and the UK portfolio will account for 10% of CLAR’s total AUM of S$17.2 billion.

Assuming the Proposed Developments were completed on 1 January 2024, the pro forma impact on the DPU for the financial year ended 31 December 2024 is expected to be an improvement of approximately 0.021 Singapore cents or a DPU accretion of 0.14%.