AIMS APAC REIT’s NPI jumps 14.0% YoY to $30.9m in Q323

The REIT attributed the increase to higher gross revenue.

The net property income of AIMS APAC REIT increased by 14.0% YoY to $30.9m in the third quarter of the financial year 2023 (Q323), its latest financial statement showed.

In a bourse filing, the REIT attributed its income growth to its higher gross revenue of $42.0m. Compared to Q322, the latest revenue was 14.1% higher. 

The REIT said the higher rental income from Singapore and Australia properties and the full quarter revenue contribution from the acquisition of Woolworths Headquarters, drove the increase in its revenue.

The higher NPI pushed the REIT’s distributions to unitholders up by 11.7% YoY to $18.7m, and its distribution per unit (DPU) by 10.2% YoY to $0.0259.