Higher contributions from Singapore lift Starhill Global REIT NPI by 1.4% YoY

Perth assets also contributed.

Starhill Global REIT reported net property income (NPI) of $37.9m in Q1 FY24/25, a 1.4% increase from the previous fiscal year.

Higher operating expenses for Myer Centre Adelaide partially offset the increase in NPI.

NPI rose in line with revenue, which grew 1.9% YoY to $48m.

The REIT attributed its revenue improvement to higher contributions from its properties in Singapore and Perth, Australia, and the appreciation of the Malaysian Ringgit against the Singapore Dollar.

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Starhill Global REIT

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