CapitaLand Ascott Trust announced at the DBS Asia Future Forward Conference on Oct, 13 2026 that income available for distribution for the six months ended Jun, 30 2026 rose 11 percent year on year to 97.5 million Singapore dollars, allowing it to maintain a distribution per stapled security of 2.53 cents.

The trust reported gearing of 37.7 percent, leaving an estimated 2.1 billion Singapore dollars in additional debt capacity, and an interest cover ratio of 2.9 times. Effective borrowing cost stood at 2.8 percent per annum, with approximately 77 percent of total debt on fixed rates and total available funds of about 1.51 billion Singapore dollars.

Total assets reached 8.8 billion Singapore dollars across 106 properties and more than 19,000 units in 45 cities within 16 countries. Asia-Pacific accounts for 56 percent of portfolio value, Europe 26 percent and the United States 18 percent. The trust targets a long-term mix of 70–75 percent in serviced residences and hotels and 25–30 percent in rental housing and student accommodation.

From 2024 to year-to-date 2026, the trust completed more than 1.1 billion Singapore dollars of divestments at premiums of up to 100 percent above book value and deployed roughly 700 million Singapore dollars into higher-yielding assets. Recent transactions include: • Acquisition of three rental housing properties in southern Kanagawa, Greater Tokyo, for 38.3 million Singapore dollars in Feb, 2026 at a 4.1 percent net operating income entry yield, expected to lift FY 2025 pro forma DPS by 0.2 percent. • Sale of The Robertson House by The Crest Collection in Singapore for 360 million Singapore dollars in Jul, 2026, a 4.0 percent premium to book value, implying a 2.3 percent exit yield. • Purchase of Coliwoo Midtown, a 212-room co-living asset in Singapore, for 134 million Singapore dollars in Sep, 2026, at a 4.1 percent entry EBITDA yield and projected to raise FY 2025 DPS by 2.4 percent.

Ongoing asset enhancement and development works include the 192-unit Somerset Clarke Quay Singapore redevelopment (completion slated for 2026, opening early 2027) and refurbishments at Sotetsu Grand Fresa Osaka-Namba, The Cavendish London and Citadines Place d’Italie Paris. Total capital expenditure for four active projects plus the Clarke Quay redevelopment is estimated at 270 million Singapore dollars, with the trust funding about 180 million Singapore dollars.

Operationally, portfolio revenue per available unit averaged 147 Singapore dollars in 1H 2026 with 78 percent occupancy; 2Q 2026 RevPAU rose 1 percent year on year after adjusting for asset recycling and renovation closures.

Looking ahead, CapitaLand Ascott Trust plans further disciplined portfolio reconstitution, aiming to recycle capital into accretive assets, expand its living-sector exposure to up to 30 percent of portfolio value and sustain stable distributions while using non-periodic or divestment gains to offset temporary income gaps from refurbishments.