Frasers Centrepoint Trust's net property income grew 14.1% to $27.2m in Q2

Thanks to the addition of Changi City Point.

Frasers Centrepoint Trust reported that its net property income grew 14.1% year-on-year to $27.2m in the first quarter.

The increase was driven by the addition of Changi City Point to its portfolio in June last year, as well as higher rents and positive rental reversions from other malls in its portfolio.

Distributable income for the quarter rose 14.1% to $27.2m. Distribution per unit grew 2.9% to 2.96 cents.
 

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