MEDIA & MARKETING | Staff Reporter, Singapore

SPH REIT's distributable income inches up 3% to $36.4m in Q1

Thanks to full occupancy at two malls.

SPH REIT’s distributable income rose by 3% on a year-on-year basis to $36.4 million in the first quarter of its financial year, on back of positive rental reversion and full occupancy at its two malls.

The REIT’s net property income rose by 3.3% to $41.4 million, while distribution per unit rose 0.8% to 1.34 cents.

SPH REIT reported that Paragon achieved a moderate rental uplift of 4.4% for new and renewed leases in Q1. Meanwhile, The Clementi Mall recorded a positive rental reversion of 9.1% in 1Q 2017 with renewal of 0.7% of net lettable area.

The 1Q 2017 distribution will be paid to unitholders on 16 February 2017. 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.