Basic Profile & Key Statistics<\/span><\/b><\/p>\n <\/p>\n Key Indicators<\/span><\/b><\/p>\n Performance Highlight<\/span><\/b><\/p>\n Gross revenue and NPI have improved slightly year-over-year (YoY), primarily due to increased income from Nervesa21 and Via dell’Industria 18 following their redevelopment. Additionally, a reversal of bad debt provisions contributed positively. However, distributable income and Distribution Per Share (DPS) have declined YoY, attributed to higher interest costs, lower interest income, and increased tax expenses.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n Rental Reversion<\/b><\/span><\/p>\n Portfolio rental reversion stood at +11.9% for the first half of FY25. The logistics and light industrial segment experienced an uplift of +8.3%, while the office segment recorded a +13.6% reversion.<\/p>\n<\/p><\/div>\n Development<\/b><\/span><\/p>\n <\/p>\n In late June, SERT invested \u20ac50 million in the Sponsor\u2019s European data centre development fund AiOnX. This fund encompasses five early-stage development sites across Denmark, Ireland, Italy, Spain, and the UK, covering a total land area of 310 hectares.<\/p>\n<\/p><\/div>\n Asset Enhancement Initiative & Redevelopment<\/b><\/span><\/p>\n The Asset Enhancement Initiative for Nove Mesto ONE Industrial I DC8 was completed in June 2025. A committed AEI for Spennyoor focuses on space expansion and solar panel installation. Additionally, De Ruijterkade 5 is in early planning stages. A major \u20ac60 million upgrade for Haagse Poort (Netherlands) has been confirmed, expected to commence in 2026 and complete by 2030. Meanwhile, Maxima and certain units in Kolumbusstra\u00dfe 16 are under redevelopment.<\/p>\n<\/p><\/div>\n Related Parties Shareholding<\/span><\/b><\/p>\n Lease Profile<\/span><\/b><\/p>\n Debt Profile<\/span><\/b><\/p>\n Diversification Profile<\/span><\/b><\/p>\n Key Financial Metrics<\/span><\/b><\/p>\n DPU Breakdown<\/span><\/b><\/p>\n Trends (Up to 10 Years)<\/span><\/b><\/p>\n <\/p>\n <\/p>\n Price Range & Relative Valuation Metrics<\/span><\/b><\/p>\n <\/p>\n Compared to the previous half-year, gross revenue and NPI have improved. However, distributable income and DPU have declined due to higher interest expenses, lower interest income, and higher tax expenses. On the debt front, no refinancing is required until late 2026.<\/p>\n<\/div>\n For more information, check out:<\/p>\n S-REITs Dashboard<\/a> – Detailed information on individual Singapore REIT<\/p>\n S-REITs Data<\/a> – Overview and detail of Singapore REITs<\/p>\n S-REIT Comparison<\/a> – Comparison among Singapore REITs<\/p>\n REIT Review<\/a> – List of previous REIT review posts<\/p>\n To support my work, check out:<\/p>\n Patreon<\/a> – Subscribe and get exclusive content<\/p>\n Investing Note<\/a> – Support by following my Investing Note profile<\/p>\n Facebook Page<\/a> – Support by liking my Facebook Page <\/span><\/p>\n Facebook Group – Passive Income Investing Community<\/a> – Join to share and discuss REITs<\/p>\n Telegram Channel – Singapore REITs Post<\/a> – Join to receive posts for Singapore REITs<\/p>\n
\n ![](\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgXaC6RWAwaKHUlj5Gnim13LPn0luDJhxl1WIw-3wRDcnZQf_fGhEU_bNFJfVhyQcEhk3e3e-fgxTKCLrooPl-VgEijl0U7wgrbE5vjg6PxH5ctYl2PLsDdin4IDmxN1zg0tMMtRLrqB9wxS5gpx_w24UYC0R_5WL5R78Gi-gcSimrpaFY8tXN_JFb_BpGE\/s1155\/SERT-BASIC.png\")
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