AIMS APAC REIT (SGX: O5RU) is one of Singapore’s most resilient mid-cap industrial S-REITs, offering investors a compelling combination of ~6.9% distribution yield, a diversified 28-property portfolio across Singapore and Australia, and a dramatically improved balance sheet. With FY2026 DPU growing 2.6% year-on-year to 9.850 Singapore cents and gearing falling to just 26.8%, AIMS APAC REIT stands out as a high-yield, defensively positioned industrial play in 2026.
This guide covers AIMS APAC REIT’s full financial profile — DPU history, yield comparison with peers, portfolio breakdown, gearing analysis, and a step-by-step guide on how to invest in O5RU using CPF or cash.
AIMS APAC REIT Overview
AIMS APAC REIT (formerly AIMS AMP Capital Industrial REIT) is a Singapore-listed industrial and logistics REIT focused on the Asia-Pacific region. Listed on SGX Mainboard under the ticker O5RU, it invests primarily in income-producing industrial real estate across Singapore and Australia.
| Key Metric | Value (FY2026) |
|---|---|
| SGX Ticker | O5RU |
| Full-Year DPU | 9.850 Singapore cents |
| Distribution Yield | ~6.4–6.9% (at S$1.43–S$1.55) |
| NAV Per Unit | S$1.28 (as at 31 Mar 2026) |
| Aggregate Leverage | 26.8% |
| Number of Properties | 28 (25 SG + 3 Australia) |
| Portfolio Occupancy | 96.8% |
| Gross Revenue (FY2026) | S$190.7 million (+2.2% YoY) |
| Interest Cover Ratio | 2.7x |
| Fixed-Rate Debt | 80% |
AIMS APAC REIT is managed by AIMS Financial Group, an independent alternative investment and financial services company. The REIT targets modern industrial assets including warehouses, logistics facilities, hi-tech industrial parks, and business parks — sectors that have demonstrated strong structural demand from e-commerce, cold chain logistics, and advanced manufacturing tenants.
FY2026 Financial Highlights
AIMS APAC REIT delivered a solid set of FY2026 results (financial year ending 31 March 2026), with DPU growing for the second consecutive year despite a challenging rate environment. Here are the key takeaways:
- Full-year DPU: 9.850 cents — up 2.6% from 9.600 cents in FY2025, driven by higher gross revenue and disciplined cost management.
- Gross revenue: S$190.7 million — up 2.2% year-on-year, supported by rent escalations and positive reversions on lease renewals.
- Gearing improved sharply to 26.8% — from 36.6% at end-2025 after the issuance of S$250 million in perpetual securities used to redeem higher-cost debt. This leaves AIMS APAC REIT with one of the lowest leverage ratios in the S-REIT sector.
- Blended cost of debt fell to 4.1% — from 4.3% in FY2025, improving interest cover to 2.7x.
- 80% of borrowings on fixed rates — limiting sensitivity to any residual rate volatility in 2026.
- NAV per unit S$1.28 — up 4.1% year-on-year, with the unit trading at a modest premium to book at current prices.
The combination of DPU growth and dramatically improved gearing positions AIMS APAC REIT as a financially healthier REIT entering the rate-normalisation cycle of 2026 and beyond.
DPU History & Dividend Trend
AIMS APAC REIT pays distributions semi-annually (typically in June and December). The REIT has maintained a consistent and gradually growing distribution track record, making it appealing to income-focused investors seeking stable passive income. Below is the recent DPU history:
| Financial Year | Full-Year DPU (cents) | YoY Change |
|---|---|---|
| FY2026 (Apr 2025–Mar 2026) | 9.850 | +2.6% |
| FY2025 (Apr 2024–Mar 2025) | 9.600 | — |
| FY2024 (Apr 2023–Mar 2024) | 9.500 | — |
| FY2023 (Apr 2022–Mar 2023) | 9.400 | — |
| FY2022 (Apr 2021–Mar 2022) | 8.950 | — |
At a unit price of S$1.43, the FY2026 distribution yield works out to approximately 6.9% — well above the S-REIT sector average of ~5.5–6.0% and significantly above the risk-free 10-year SGS bond yield of approximately 3.0% in mid-2026. This wide spread makes AIMS APAC REIT an attractive income proposition for yield-seeking investors.
Tax treatment for Singapore investors: AIMS APAC REIT distributions are exempt from Singapore withholding tax for individual retail investors holding units through SGX. However, corporate investors and non-resident investors may be subject to different tax treatment — consult a tax professional for your specific situation. For a breakdown of withholding tax rules, use our Withholding Tax on Dividends Calculator.
Portfolio Breakdown: 28 Properties Across Singapore & Australia
AIMS APAC REIT’s portfolio spans 28 properties — 25 in Singapore and 3 in Australia — encompassing a mix of logistics warehouses, light industrial facilities, hi-tech parks, and business parks. This geographic diversification provides a natural AUD/SGD currency hedge alongside income stability.
Singapore Portfolio (25 Properties)
The Singapore portfolio is anchored in the key industrial clusters of Jurong, Tai Seng, Tuas, Woodlands, and Defu Industrial Park. Singapore assets generate the majority of AIMS APAC REIT’s gross revenue and benefit from JTC-backed industrial land that provides strong asset backing. Portfolio committed occupancy in FY2026 stood at 96.8% — well above the JTC national average of 88.9% — underscoring strong tenant demand for the REIT’s quality assets.
Australia Portfolio (3 Properties)
The Australian portfolio comprises three strategic assets:
- Optus Centre, Macquarie Park, NSW — 49.0% interest in this landmark office and technology campus, anchored by Optus (Singtel subsidiary) on a long-term lease. Provides stable income with blue-chip credit quality.
- Woolworths HQ, Bella Vista, NSW — The Australian supermarket giant’s headquarters, providing defensive, long-duration rental income.
- Gold Coast Logistics Property, Queensland — Modern logistics facility benefiting from southeast Queensland’s infrastructure investment tailwind.
Portfolio Concentration & WALE
No single tenant dominates AIMS APAC REIT’s income stream disproportionately. The weighted average lease expiry (WALE) provides visibility on near-term rental income, while embedded annual rent escalations (typically 2–3% per annum on SG leases) support organic DPU growth over time. The REIT also benefits from positive rent reversion on lease renewals, as market rents for modern industrial space in Singapore have trended higher over 2024–2026.
Gearing & Balance Sheet Health
One of the most compelling developments in AIMS APAC REIT’s FY2026 story is its dramatic balance sheet improvement. The REIT’s aggregate leverage fell from 36.6% at end-December 2025 to just 26.8% as at 31 March 2026 — a sharp improvement achieved through the issuance of S$250 million in perpetual securities, proceeds of which were used to redeem higher-cost borrowings.
| Balance Sheet Metric | FY2026 | FY2025 |
|---|---|---|
| Aggregate Leverage | 26.8% | 36.6%* |
| Blended Cost of Debt | 4.1% | 4.3% |
| Interest Cover Ratio (ICR) | 2.7x | — |
| Fixed-Rate Debt Proportion | 80% | — |
| NAV Per Unit | S$1.28 | S$1.23 |
*December 2025 figure; FY2026 year-end reflects perpetual securities issuance.
The MAS regulatory gearing cap for S-REITs is 50% (or 45% without a credit rating from a major agency). At 26.8%, AIMS APAC REIT has substantial headroom of approximately S$400–500 million in additional debt capacity before approaching the 45% threshold — providing significant flexibility for future acquisitions or asset enhancement initiatives (AEIs).
For investors who want to analyse S-REIT gearing ratios and interest coverage in detail, use our S-REIT Gearing Ratio & ICR Calculator.
AIMS APAC REIT vs Peer Industrial S-REITs: Yield Comparison 2026
How does AIMS APAC REIT stack up against other industrial S-REITs? Here is a side-by-side comparison of key metrics for the major industrial and logistics REITs listed on SGX as at mid-2026:
| REIT (SGX) | DPU (Latest FY) | Yield (~) | Gearing | Properties |
|---|---|---|---|---|
| AIMS APAC REIT (O5RU) | 9.85¢ | ~6.9% | 26.8% | 28 |
| CapitaLand Ascendas REIT (A17U) | 15.01¢ | ~6.1% | 39.0% | 222 |
| Mapletree Industrial Trust (ME8U) | 12.71¢ | ~6.5% | 34.0% | 141 |
| Frasers Logistics & Comm Trust (BUOU) | ~7.20¢ | ~6.8% | ~36% | 107 |
| Sabana REIT (M1GU) | 3.53¢ | ~7.5% | ~33% | 18 |
Source: Company financial statements, SGX filings. Yields approximate based on mid-May 2026 unit prices.
AIMS APAC REIT’s standout feature in this comparison is its dramatically lower gearing (26.8%) versus peers — providing the best balance sheet buffer in the peer group while still offering a competitive ~6.9% yield. This makes it an attractive option for investors concerned about rate sensitivity or wanting downside protection in a market sell-off.
To compare S-REIT yields versus Singapore government bonds, use our S-REIT Yield vs SGS Bond Spread Calculator.
How to Buy AIMS APAC REIT (O5RU): CPF, SRS & Cash
AIMS APAC REIT is listed on the Singapore Exchange (SGX Mainboard) and can be purchased through any SGX-connected broker. Here is a step-by-step guide:
Step 1: Open a Brokerage Account
You need a CDP-linked brokerage account to hold AIMS APAC REIT units directly. Popular options include DBS Vickers, OCBC Securities, UOB Kay Hian, or a low-cost broker like FSMOne. FSMOne offers one of the lowest commission rates for SGX stocks at 0.08% (min. S$8.80). Sign up with our referral: FSMOne Referral Code P0544985.
Step 2: Fund Your Account (Cash, CPF-OA, or SRS)
- Cash: Transfer funds from your bank account and trade immediately.
- CPF Ordinary Account (OA): AIMS APAC REIT is eligible under the CPF Investment Scheme (CPFIS-OA). You can use CPF-OA funds above your first S$20,000 to purchase units. See our CPF Investment Guide for eligibility rules.
- SRS (Supplementary Retirement Scheme): AIMS APAC REIT is SRS-eligible. Use our SRS Tax Savings Calculator to see how much you save.
Step 3: Place Your Order
Search for ticker O5RU on your brokerage platform. AIMS APAC REIT trades in board lots of 100 units. At a unit price of approximately S$1.43–S$1.55, a minimum investment of one board lot costs roughly S$143–S$155 (excluding brokerage fees). Calculate total brokerage cost with our Brokerage Fee Calculator.
Step 4: Track Your Distributions
AIMS APAC REIT distributes semi-annually (approximately June and December). For dividend tracking and portfolio yield calculations, use our Dividend Portfolio Yield Calculator or our REITs Dividend Yield Calculator.
Want to build a broader S-REIT portfolio? Consider pairing AIMS APAC REIT with an S-REIT ETF for instant diversification. Read our full review: Singapore REIT ETF Guide.
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