Alpha Integrated REIT (SGX:M1GU
) (AI REIT) has reported a portfolio occupancy rate of 91.4% for 1QFY2026, ended March 31, as compared to 86.4% a year ago.
The improvement in portfolio occupancy rate was supported by strong retention and proactive leasing, with momentum carried from FY2025 where it witnessed higher occupancy rate driven by new leases in the High-Tech cluster and Warehouse & Logistics cluster.
For 1QFY2026, close to 60% of its gross rental income (GRI) is contributed by the High-Tech segment, while a quarter of its GRI came from Warehouse & Logistics segment.
At the same time, AI REIT renewed 26,145 sq m of space and secured 6,848 sq m of new leases. This adds up to close to 33,000 sq m worth of leases secured in 1QFY2026. On a portfolio level basis, rental reversion was at 12% for this quarter, with Warehouse & Logistics segment saw the highest reversion of 12.9%, followed by General Industrial of 12.1%.
AI REIT says that more than 59% of leases due in FY2026 have been renewed, with the remaining leases currently under active renewal discussions.
Portfolio WALE by GRI stands at 2.4 years with 16.5% of total net leasable area are due for renewal for the rest of FY2026.
See also: Keppel DC REIT's 1Q2026 DPU rises 13.2% to 2.833 cents
On the capital management front, AI REIT’s aggregate leverage was higher at 36.1% as at March 31, 2026, compared against 35.8% as at December 31, 2025, due to slightly higher borrowings.
Average all-in financing costs has declined from 4.13% as at December 31, 2025 to 3.85% as at March 31, 2026.
Average debt maturity profile has been extended to 2.2 years following the recent successful refinancing of $75.0 million loan in March. AI RETI says that it is currently in discussion with lenders on refinancing in FY2027. $25 million worth of revolving facilities and $50 million term loans are due for refinancing in FY2027.
For the upcoming AEI at New Tech Park (Phase 3), AI REIT highlights that it is still currently under evaluation and if confirmed, it could add a new block within the building to unlock untapped plot ratio, which could see 19,508 sq m of modernised High-Tech industrial space.
As of 9.13am, units of AI REIT are trading flat at 47.5 cents.
