ESR REIT 9A4U

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Company profile

The business, the people and the ownership behind ESR REIT.

Investor relations ↗Official company website

Business overview

About the company

ESR-REIT invests in industrial real estate. Its annual report identifies a property portfolio spanning Singapore, Australia and Japan.

Annual Report 2025 ↗ Reviewed 2026-10-23 · Source dated 2026-04-02. PDF p. 223

Listed security

Company & listing

Full Company Name
ESR-REIT MANAGEMENT (S) LIMITED
Trading Currency
SGD
Website
www.esr-reit.com.sg
Listing
Listed on 30 April 2025 on MAINBOARD
ISIN Code
SGXC55341835

Board & management

Leadership

These directors and the CEO serve ESR-REIT Management (S) Limited, the Manager of ESR-REIT. Appointment dates refer to the Manager’s board.

Physical page94: Stuart Gibson stepped down as member of the Nominating and Remuneration Committee on16March2026; the report continues to list him as Non-Executive Director.

Ms. Stefanie Yuen Thio

Independent Non-Executive Chairperson

Board of ESR-REIT Management (S) Limited, the REIT Manager; composition as at date of FY2025 report PDF p. 94

Mr. Nagaraj Sivaram

Independent Non-Executive Director

Board of ESR-REIT Management (S) Limited, the REIT Manager; composition as at date of FY2025 report PDF p. 94

Mr. Ronald Lim

Independent Non-Executive Director

Board of ESR-REIT Management (S) Limited, the REIT Manager; composition as at date of FY2025 report PDF p. 94

Dr. Julie Lo Lai Wan

Independent Non-Executive Director

Board of ESR-REIT Management (S) Limited, the REIT Manager; composition as at date of FY2025 report PDF p. 94

Mr. Loi Pok Yen

Independent Non-Executive Director

Board of ESR-REIT Management (S) Limited, the REIT Manager; composition as at date of FY2025 report PDF p. 94

Mr. Stuart Gibson

Non-Executive Director

Board of ESR-REIT Management (S) Limited, the REIT Manager; composition as at date of FY2025 report PDF p. 94

Mr. Shen Jinchu, Jeffrey

Non-Executive Director

Board of ESR-REIT Management (S) Limited, the REIT Manager; composition as at date of FY2025 report PDF p. 94

Mr. George Agethen

Non-Executive Director

Board of ESR-REIT Management (S) Limited, the REIT Manager; composition as at date of FY2025 report PDF p. 94

Mr. Adrian Chui

Chief Executive Officer and Executive Director

Board of ESR-REIT Management (S) Limited, the REIT Manager; composition as at date of FY2025 report PDF p. 94

Ms. Stefanie Yuen Thio — first appointment as Director

29 March 2019

ESR-REIT Management (S) Limited, the REIT Manager; original appointment date PDF p. 29

Mr. Ronald Lim — first appointment as Director

8 January 2019

ESR-REIT Management (S) Limited, the REIT Manager; original appointment date PDF p. 29

Mr. Nagaraj Sivaram — first appointment as Director

3 June 2022

ESR-REIT Management (S) Limited, the REIT Manager; original appointment date PDF p. 30

Dr. Julie Lo Lai Wan — first appointment as Director

1 November 2022

ESR-REIT Management (S) Limited, the REIT Manager; original appointment date PDF p. 30

Mr. Loi Pok Yen — first appointment as Director

15 May 2023

ESR-REIT Management (S) Limited, the REIT Manager; original appointment date PDF p. 31

Mr. George Agethen — first appointment as Director

15 May 2023

ESR-REIT Management (S) Limited, the REIT Manager; original appointment date PDF p. 31

Mr. Stuart Gibson — first appointment as Director

30 August 2023

ESR-REIT Management (S) Limited, the REIT Manager; original appointment date PDF p. 32

Mr. Shen Jinchu, Jeffrey — first appointment as Director

8 November 2023

ESR-REIT Management (S) Limited, the REIT Manager; original appointment date PDF p. 32

Mr. Adrian Chui — first appointment as Director

24 March 2017

ESR-REIT Management (S) Limited, the REIT Manager; original appointment date PDF p. 33

Roles listed in ESR-REIT Annual Report 2025; current appointments are not independently verified.

Holdings

Ownership

Substantial-unitholder and largest-unitholder schedules are dated19March2026 and use806,451,169Units in issue. Direct and deemed interests may refer to the same Units; holdings across these related parties must not be added.

Directors’ unitholding schedule is dated21January2026 and uses805,035,067Units in issue. It is a separate snapshot from the19March2026 ownership schedules.

Contingent awards under the Manager’s Performance Unit Plan are not current issued-unit holdings. Adrian Chui’s printed range0to307,215Units is conditional; the original footnote describes performance-dependent release from0%to150% of baseline.

The substantial unitholder register is reported as at 19 March 2026. The percentage-interest footnote says percentages are based on 806,451,169 Units in issue as at the Latest Practicable Date.

Mr. Tong Jinquan

Direct: 17,280,299 Units (2.143%); deemed: 25,518,483 Units (3.164%); total: 42,798,782 Units (5.307%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

e-Shang Infinity Cayman Limited

Direct: 97,165,525 Units (12.049%); deemed: 29,783,843 Units (3.693%); total: 126,949,368 Units (15.742%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

e-Shang Jupiter Cayman Limited

Direct: – Units (–); deemed: 126,949,368 Units (15.742%); total: 126,949,368 Units (15.742%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

LOGOS Units No. 1 Ltd.

Direct: 44,842,922 Units (5.561%); deemed: – Units (–); total: 44,842,922 Units (5.561%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

LOGOS Property Group Limited

Direct: – Units (–); deemed: 44,842,922 Units (5.561%); total: 44,842,922 Units (5.561%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

ESR Logistics Venture I Limited

Direct: – Units (–); deemed: 44,842,922 Units (5.561%); total: 44,842,922 Units (5.561%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

ESR Logistics Partners Limited

Direct: – Units (–); deemed: 44,842,922 Units (5.561%); total: 44,842,922 Units (5.561%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

ESR Logistics (Holdings) Pte. Ltd.

Direct: – Units (–); deemed: 44,842,922 Units (5.561%); total: 44,842,922 Units (5.561%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

ESR Asset Management Limited

Direct: – Units (–); deemed: 44,842,922 Units (5.561%); total: 44,842,922 Units (5.561%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

ESR Group Limited

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

MEGA BidCo

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

MEGA FinCo

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

MEGA Intermediate HoldCo

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

MEGA EquityCo

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Starwood Electron Co-Invest LP

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Starwood Electron Co-Invest GP, LLC

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

SOF-12 Sequoia Investco Ltd

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

SOF-12 International Management S.à.r.l.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

SCGG II GP, L.L.C.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Starwood Capital Group Holdings GP L.L.C.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

BSS SCG GP Holdings L.L.C.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Barry Stuart Sternlicht

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

S Asia Hold Co 1 Private Limited

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

SOF-12 International SCSP

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Starwood XII Management L.P.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Starwood XII Management GP, L.L.C.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Starwood Capital Group Global II, L.P.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Warburg Pincus & Co.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Warburg Pincus (Bermuda) Private Equity GP Ltd.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Alexandrite Gem Holdings Limited

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Athena Logistics Holding Ltd

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

WP Global LLC

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Warburg Pincus Partners II, L.P.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Warburg Pincus Partners GP LLC

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

WP Nepheline Ltd

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

WP Ekanite Gem Ltd

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

WP Andesine Holding Ltd

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Warburg Pincus Asia Real Estate GP, LLC

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Warburg Pincus Co-Investment GP (Cayman), Ltd.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Warburg Pincus (Cayman) China-Southeast Asia II GP LLC

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Warburg Pincus Partners II (Cayman), L.P.

Direct: – Units (–); deemed: 173,208,392 Units (21.478%); total: 173,208,392 Units (21.478%).

as at 19 March 2026; overlapping direct/deemed interests are not aggregated across holders PDF p. 230 As reported at 2026-03-19

Ms. Stefanie Yuen Thio

Direct: 26,593 Units (0.0033%); deemed: 3,795(3) Units (0.0005%); total: 30,388 Units (0.0038%); contingent awards under the Manager’s Performance Unit Plan: –.

Director interest as at 21 January 2026 PDF p. 231 As reported at 2026-01-21

Mr. Nagaraj Sivaram

Direct: 200,000 Units (0.0248%); deemed: – Units (–); total: 200,000 Units (0.0248%); contingent awards under the Manager’s Performance Unit Plan: –.

Director interest as at 21 January 2026 PDF p. 231 As reported at 2026-01-21

Dr. Julie Lo Lai Wan

Direct: – Units (–); deemed: – Units (–); total: – Units (–); contingent awards under the Manager’s Performance Unit Plan: –.

Director interest as at 21 January 2026 PDF p. 231 As reported at 2026-01-21

Mr. Ronald Lim

Direct: 24,000 Units (0.0030%); deemed: – Units (–); total: 24,000 Units (0.0030%); contingent awards under the Manager’s Performance Unit Plan: –.

Director interest as at 21 January 2026 PDF p. 231 As reported at 2026-01-21

Mr. Loi Pok Yen

Direct: 711,065 Units (0.0883%); deemed: 13,832(4) Units (0.0017%); total: 724,897 Units (0.0900%); contingent awards under the Manager’s Performance Unit Plan: –.

Director interest as at 21 January 2026 PDF p. 231 As reported at 2026-01-21

Mr. George Agethen

Direct: – Units (–); deemed: – Units (–); total: – Units (–); contingent awards under the Manager’s Performance Unit Plan: –.

Director interest as at 21 January 2026 PDF p. 231 As reported at 2026-01-21

Mr. Stuart Gibson

Direct: – Units (–); deemed: – Units (–); total: – Units (–); contingent awards under the Manager’s Performance Unit Plan: –.

Director interest as at 21 January 2026 PDF p. 231 As reported at 2026-01-21

Mr. Shen Jinchu, Jeffrey

Direct: – Units (–); deemed: – Units (–); total: – Units (–); contingent awards under the Manager’s Performance Unit Plan: –.

Director interest as at 21 January 2026 PDF p. 231 As reported at 2026-01-21

Mr. Adrian Chui

Direct: – Units (–); deemed: – Units (–); total: – Units (–); contingent awards under the Manager’s Performance Unit Plan: 0 to 307,215(5).

Director interest as at 21 January 2026 PDF p. 231 As reported at 2026-01-21

Total interests include direct and deemed holdings and may overlap across holders. These percentages should not be added together.

Registered & depository holders 20 holders

Registered holdings, including nominees and depositories; these do not establish ultimate beneficial ownership. As reported at 2026-03-19 · PDF p. 229

Registered holderInterestShares / unitsSource
CITIBANK NOMINEES SINGAPORE PTE LTD169,217,383 Units; 20.98% of Units in Issue.PDF p. 2292026-03-19
RHB BANK NOMINEES PTE LTD97,165,525 Units; 12.05% of Units in Issue.PDF p. 2292026-03-19
DBS NOMINEES (PRIVATE) LIMITED91,731,490 Units; 11.37% of Units in Issue.PDF p. 2292026-03-19
HSBC (SINGAPORE) NOMINEES PTE LTD84,673,437 Units; 10.50% of Units in Issue.PDF p. 2292026-03-19
DBS VICKERS SECURITIES (SINGAPORE) PTE LTD49,136,970 Units; 6.09% of Units in Issue.PDF p. 2292026-03-19
RAFFLES NOMINEES (PTE.) LIMITED29,081,927 Units; 3.61% of Units in Issue.PDF p. 2292026-03-19
DBSN SERVICES PTE. LTD.25,164,078 Units; 3.12% of Units in Issue.PDF p. 2292026-03-19
ESR-REIT MANAGEMENT (S) LIMITED24,565,213 Units; 3.05% of Units in Issue.PDF p. 2292026-03-19
PHILLIP SECURITIES PTE LTD7,929,663 Units; 0.98% of Units in Issue.PDF p. 2292026-03-19
UNITED OVERSEAS BANK NOMINEES (PRIVATE) LIMITED6,742,934 Units; 0.84% of Units in Issue.PDF p. 2292026-03-19
OCBC SECURITIES PRIVATE LIMITED5,488,265 Units; 0.68% of Units in Issue.PDF p. 2292026-03-19
ESR PROPERTY SERVICES PTE LTD5,218,630 Units; 0.65% of Units in Issue.PDF p. 2292026-03-19
DB NOMINEES (SINGAPORE) PTE LTD5,012,347 Units; 0.62% of Units in Issue.PDF p. 2292026-03-19
IFAST FINANCIAL PTE. LTD.4,955,531 Units; 0.61% of Units in Issue.PDF p. 2292026-03-19
BPSS NOMINEES SINGAPORE (PTE.) LTD.4,914,906 Units; 0.61% of Units in Issue.PDF p. 2292026-03-19
ABN AMRO CLEARING BANK N.V.4,425,928 Units; 0.55% of Units in Issue.PDF p. 2292026-03-19
OCBC NOMINEES SINGAPORE PRIVATE LIMITED4,387,730 Units; 0.54% of Units in Issue.PDF p. 2292026-03-19
MAYBANK SECURITIES PTE. LTD.4,095,355 Units; 0.51% of Units in Issue.PDF p. 2292026-03-19
MEIBAN INVESTMENT PTE LTD3,857,278 Units; 0.48% of Units in Issue.PDF p. 2292026-03-19
CGS INTERNATIONAL SECURITIES SINGAPORE PTE. LTD.3,819,446 Units; 0.47% of Units in Issue.PDF p. 2292026-03-19

Group structure

Subsidiaries and joint ventures

Entity interests explicitly identify2025and2024. Dashes are retained as printed and are not treated as numeric zero.

Source note(5),physical178: LSLV Project5 PteLtd andTuas South Avenue PteLtd were amalgamated10February2025, then converted toTuas South Avenue LLP8July2025.

Source note(6),physical178: marked indirect subsidiaries were wound up inJune2025; historical comparison entries are retained.

PTC Logistics Hub LLP is reported as a joint venture with49%Group ownership in2025and2024,physical180. The note does not separately disclose its incorporation country or principal activity.

CompanyMarketOwnership interest
ESR-REIT MTN Pte. Ltd.Direct subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Provision of financial and treasury services; country of incorporation: Singapore; Group effective equity interest: 2025: 100%; 2024: 100%.
ESR-REIT SPV2 Pte. Ltd.Direct subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Investment holding; country of incorporation: Singapore; Group effective equity interest: 2025: 100%; 2024: 100%.
7000 AMK LLPDirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Property investment; country of incorporation: Singapore; Group effective equity interest: 2025: 80%; 2024: 80%.
Viva TrustDirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Property investment; country of incorporation: Singapore; Group effective equity interest: 2025: 100%; 2024: 100%.
ALOG TrustDirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Property investment; country of incorporation: Singapore; Group effective equity interest: 2025: 100%; 2024: 100%.
ESR-REIT INV Pte. Ltd.Direct subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Investment holding; country of incorporation: Singapore; Group effective equity interest: 2025: 100%; 2024: 100%.
ESR-REIT INV2 Pte. Ltd.Direct subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Investment holding; country of incorporation: Singapore; Group effective equity interest: 2025: 100%; 2024: 100%.
ESR-REIT INV3 Pte. Ltd.Direct subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Investment holding; country of incorporation: Singapore; Group effective equity interest: 2025: 100%; 2024: 100%.
ESR-REIT AUS (MTN) Pty LtdDirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Provision of financial and treasury services; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
ALOG (Australia) Pte. Ltd.Indirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Investment holding; country of incorporation: Singapore; Group effective equity interest: 2025: 100%; 2024: 100%.
ALOG TSA Pte. Ltd.Indirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Investment holding; country of incorporation: Singapore; Group effective equity interest: 2025: 100%; 2024: 100%.
LSLV Project 5 Pte. Ltd.Indirect subsidiary; interest columns are ordered 2025 then 2024; LSLV Project 5 Pte. Ltd. and Tuas South Avenue Pte. Ltd. amalgamated on 10 February 2025; subsequently converted to Tuas South Avenue LLP on 8 July 2025.PDF p. 176 Principal activities: Investment holding; country of incorporation: Singapore; Group effective equity interest: 2025: –; 2024: 51%.
Tuas South Avenue LLPIndirect subsidiary; interest columns are ordered 2025 then 2024; LSLV Project 5 Pte. Ltd. and Tuas South Avenue Pte. Ltd. amalgamated on 10 February 2025; subsequently converted to Tuas South Avenue LLP on 8 July 2025.PDF p. 176 Principal activities: Property investment; country of incorporation: Singapore; Group effective equity interest: 2025: 51%; 2024: 51%.
ALOG-OPAT TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Investment holding; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
ALOG Logistics Trust AustraliaIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Investment holding; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Chester Hill (NSW) TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Somerton (VIC) TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Coopers Plains (QLD) TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 176 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Wacol (QLD) TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Wacol 2 (QLD) TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Kidman Park (SA) TrustIndirect subsidiary; interest columns are ordered 2025 then 2024; Indirect subsidiary wound up in June 2025; 2025 equity interest is a printed dash, not zero.PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: –; 2024: 100%.
Laverton (VIC) TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Altona TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
ESIP TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Investment holding; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
LAIP TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Investment holding; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Berrinba TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Berkeley TrustIndirect subsidiary; interest columns are ordered 2025 then 2024; Indirect subsidiary wound up in June 2025; 2025 equity interest is a printed dash, not zero.PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: –; 2024: 100%.
Campbellfield TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Braeside TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Hydrive TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Link Drive TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Wacol TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Westlink TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Woodlands TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
LP Bishop Asset TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
LP Curlew Asset TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Peregrine (QLD) TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Heron (QLD) TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 177 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
Larapinta Property Asset TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 178 Principal activities: Property investment; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
ALOG-LAIV TrustIndirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 178 Principal activities: Investment holding; country of incorporation: Australia; Group effective equity interest: 2025: 100%; 2024: 100%.
ESR-REIT TMK1Indirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 178 Principal activities: Property investment; country of incorporation: Japan; Group effective equity interest: 2025: 100%; 2024: 100%.
ESR-REIT TMK2Indirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 178 Principal activities: Property investment; country of incorporation: Japan; Group effective equity interest: 2025: 100%; 2024: 100%.
ESR-REIT GK1Indirect subsidiary; interest columns are ordered 2025 then 2024PDF p. 178 Principal activities: Investment holding; country of incorporation: Japan; Group effective equity interest: 2025: 100%; 2024: 100%.
PTC Logistics Hub LLPJoint venture; interest columns are ordered 2025 then 2024PDF p. 180 Group ownership: 2025: 49%; 2024: 49%.

Ownership interests and geographic information follow the annual report. Comparative years and footnote markers retain the report’s notation.

Senior executives

Key management

Key management

ItemValuePeriod / scopeSource
Mr. Adrian Chui Chief Executive Officer (“CEO”) and Executive Director Manager of ESR-REIT PDF p. 35
Mr. Don Kok Chief Financial Officer (“CFO”) Manager of ESR-REIT PDF p. 35
Ms. Charlene-Jayne Chang Head of Capital Markets and Investor Relations Manager of ESR-REIT PDF p. 36
Mr. Carlvin Chia Head of Asset Management Manager of ESR-REIT PDF p. 36
Ms. Nancy Tan Head of Investment Manager of ESR-REIT PDF p. 37

Extracted from ESR-REIT Annual Report 2025 and checked against the cited pages; see the original report for full context.

Shareholding statistics

Share capital & shareholders

Share capital

ItemValuePeriod / scopeSource
ISSUED AND FULLY PAID-UP UNITS 806,451,169 Ordinary Units ESR-REIT, as at 19 March 2026 · As at 2026-03-19 PDF p. 229
voting rights voting rights: one vote per Unit Ordinary Units · As at 2026-03-19 PDF p. 229
Market Capitalisation S$1,903,224,759 ESR-REIT · As at 2026-03-19 PDF p. 229

Shareholding distribution

ItemValuePeriod / scopeSource
Total 22,375 holders Total unitholders · As at 2026-03-19 PDF p. 229
1 – 99 1,833 holders; 8.19% of holders; 40,339 Units; 0.00% of Units Size of Unitholdings band 1 – 99 · As at 2026-03-19 PDF p. 229
100 – 1,000 5,856 holders; 26.17% of holders; 3,058,236 Units; 0.38% of Units Size of Unitholdings band 100 – 1,000 · As at 2026-03-19 PDF p. 229
1,001 – 10,000 11,528 holders; 51.52% of holders; 41,412,134 Units; 5.14% of Units Size of Unitholdings band 1,001 – 10,000 · As at 2026-03-19 PDF p. 229
10,001 – 1,000,000 3,127 holders; 13.98% of holders; 107,248,559 Units; 13.30% of Units Size of Unitholdings band 10,001 – 1,000,000 · As at 2026-03-19 PDF p. 229
1,000,001 and above 31 holders; 0.14% of holders; 654,691,901 Units; 81.18% of Units Size of Unitholdings band 1,000,001 and above · As at 2026-03-19 PDF p. 229

Free float

ItemValuePeriod / scopeSource
FREE FLOAT approximately 73.1% of ESR-REIT’s Units are held by the public ESR-REIT, as at 19 March 2026 · As at 2026-03-19 PDF p. 231
Rule 723 Rule 723 of the listing Manual of the SGX-ST has been complied with ESR-REIT · As at 2026-03-19 PDF p. 231

Extracted from ESR-REIT Annual Report 2025 and checked against the cited pages; see the original report for full context.

Related parties, people & properties

Other disclosures

Related party transactions

ItemValuePeriod / scopeSource
– Property management fees(2) 10,876 $'000 Exempted IPTs; ESR Group Limited and its subsidiaries; FY2025 PDF p. 226
– Lease marketing services 7,643 $'000 Exempted IPTs; ESR Group Limited and its subsidiaries; FY2025 PDF p. 226
– Trustee fees(1) 652 $'000 Exempted IPTs; Perpetual (Asia) Limited (Trustee); FY2025 PDF p. 226
– Renewable electricity cost(3) 35,400 $'000 Non-exempted IPTs; ESR Group Limited and its subsidiaries; FY2025 PDF p. 226

Contingent liabilities

ItemValuePeriod / scopeSource
(c) Guarantees The Trust has provided unsecured corporate guarantees to banks in respect of the interest rate swaps contracts entered into by certain subsidiaries with total notional amount of $137.5 million (2024: $254.3 million). Trust guarantees; 31 December 2025 (comparative 2024) PDF p. 203
(c) Guarantees The Trust has provided unsecured corporate guarantees of $9.1 million (2024: $8.8 million) to a bank in respect of bank guarantees issued on behalf of a subsidiary. Trust guarantees; 31 December 2025 (comparative 2024) PDF p. 203
28. CONTINGENT LIABILITY were served with a claim from the tenant of a property in Singapore for damages amounting to approximately $27.4 million Group; claim served 27 February 2025 PDF p. 203

Director remuneration

ItemValuePeriod / scopeSource
Ms. Stefanie Yuen Thio S$164,000 Directors' Fixed Fees Paid in FY2025 PDF p. 105
Mr. Nagaraj Sivaram S$100,000 Directors' Fixed Fees Paid in FY2025 PDF p. 105
Mr. Ronald Lim S$104,000 Directors' Fixed Fees Paid in FY2025 PDF p. 105
Dr. Julie Lo Lai Wan S$101,000 Directors' Fixed Fees Paid in FY2025 PDF p. 105
Mr. Loi Pok Yen S$110,000 Directors' Fixed Fees Paid in FY2025 PDF p. 105
Mr. Adrian Chui 1,247,816 S$ CEO remuneration FY2025; Total (S$); 55.6% fixed, 21.8% short-term, 22.6% long-term PDF p. 106

Subsequent events

ItemValuePeriod / scopeSource
Divestment of Hotel Strata Lot at 2 Changi Business Park Avenue 1 On 30 January 2026, ESR-REIT entered into a put and call option agreement to divest 2 Changi Business Park Avenue 1 located in Singapore for $101.0 million. Note 35(a) PDF p. 225
Issuance of new Units On 26 February 2026, 1.4 million new Units amounting to approximately $3.8 million were issued at an issue price of $2.6870 per Unit Note 35(b) PDF p. 225

Properties

ItemValuePeriod / scopeSource
16 INTERNATIONAL BUSINESS PARK Leasehold; term 30+30 years; remaining 31 years; 16 International Business Park Singapore 609929; Business Park Properties Group; Singapore; as at 31 December 2025 PDF p. 132
750 – 750E CHAI CHEE ROAD Leasehold; term 60/43 years; remaining 5/5 years; 750 to 750E Chai Chee Road Singapore 469000; Business Park Properties Group; Singapore; as at 31 December 2025 PDF p. 132

Extracted from ESR-REIT Annual Report 2025 and checked against the cited pages; see the original report for full context.

Source: ESR-REIT Annual Report 2025 ↗

Corporate information

Registration & contacts

Incorporated In
SINGAPORE
Incorporated On
31 Mar 2006
Telephone
65 6222 3339
Fax
65 6827 9339
Registered Office
5 Temasek Boulevard
#12-09 Suntec Tower Five
Singapore 038985
Secretary
Low Mei Mei Maureen
Registrar / Transfer Agent
BOARDROOM CORPORATE & ADVISORY SERVICES PTE. LTD.
Registrar Address
1 Harbourfront Avenue, Keppel Bay Tower, #14-07, Singapore 098632
Auditors
ERNST & YOUNG LLP
Other Stock Exchange Listings
*SINGAPORE EXCHANGE LTD.
Country
SINGAPORE
Security Type
reits