Operations Review
Property Portfolio
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Tenant Business Sectors
As at 31 December 2008, K-REIT
Asia had 118 tenants from multifarious
business sectors occupying 99.0%
of its net lettable area (NLA) of 1.23
million square feet (sf). The Manager
aims to maintain a diverse tenant
business sector profile to mitigate
the risk of over-reliance on any single
business sector. All information relating
to portfolio NLA and gross rental
income in this section includes one third
of One Raffles Quay’s NLA and
gross rental income.
Tenants in the banking, insurance
and financial services sector were
the largest users of space and also
accounted for the highest share of
K-REIT Asia’s gross rental income in
December 2008 if one-third of One
Raffles Quay’s gross rental income
were taken into account. These
tenants, most of whom have signed
long-term leases of more than five
years, are predominantly located in
One Raffles Quay. This sector
occupies 35.6% of the leased NLA
and contributed some 39.7% of
K-REIT Asia’s total gross rental income.
In second position was the services
sector which contributed 12.0% of the
gross rental income and occupied
9.1% of the portfolio’s leased NLA
as at 31 December 2008.
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