News

Commercial Property Markets & Investing

Staff Reporter

, Singapore

Published:

2 years ago

407 views

Logo from Lendlease Global Commercial REIT

Lendlease Global Commercial REIT’s NPI soars 22.2% YoY to $93.4m in 1H24

Despite higher NPI, the REIT declared a lower DPU of $0.0210.

With improved operational performance from the retail malls and recognition of supplementary rent from the lease restructure with Sky Italia, Lendlease Global Commercial REIT recorded improved revenue and net property income (NPI) in 1H24.

The REIT’s gross revenue rose 17.9% YoY to $119.9m, whilst its NPI jumped 22.2% YoY to $93.4m.

Excluding the supplementary rent recognised in advance, gross revenue and NPI would still increase by 5.1% YoY.

Despite higher NPI and revenue, the REIT declared a distribution per unit (DPU) of $0.0210, lower than the $0.0245 recorded in 1H23.

The REIT attributed the lower DPU in 1H24 to higher borrowing costs amidst the higher interest rates as compared to a year ago.

Follow the link for more news on

Lendlease Global Commercial REIT

Financial Statements

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Freight services prices jump 4.5% in Q1 on pricier oil and supply disruptions

Accounting services, cargo, and warehouse storage prices all rose.

Economy

19 hours ago

URA offers two residential sites for sale in Lorong Puntong and Kitchener Link

The Lorong Puntong/ Sin Ming Avenue site's tender closes in September.

Residential Property

19 hours ago

Condo resale prices rise 1.3% in May as volumes drop 9%

May resale activity stayed at 15.4%, below the 5-year average even as prices increased.

Residential Property

19 hours ago

VICOM names Chung Tying Chun as CEO from January 2027

He succeeds Sim Wing Yew, who retires after 14 years of service.

Transport & Logistics

20 hours ago

Exclusives

Tsuklio targets dual-income families in Singapore expansion

The Japanese meal subscription platform logged 3,000 pre-registrations before launch.

Food & Beverage

1 day ago

Firms cut senior hiring costs with fractional executives

$Firms cut senior hiring costs with fractional executives$

Firms cut senior hiring costs with fractional executives

Companies report 50% to 70% lower costs than full-time senior hires.

HR & Education

2 days ago

Choosier Asia buyers steer auctions toward rare art

Collectors are bidding harder for works with clear ownership histories.

3 days ago

Big-ticket deals lift Singapore M&A as volumes fall

Private equity and AI infrastructure drive record deal concentration.

Event News

Co-Written / Partner Finweek KL 2026: Where European capital meets ASEAN scale

The premier EU–ASEAN institutional fintech summit brings 1,000+ delegates to PARKROYAL Collection Kuala Lumpur on 11 to 13 November 2026 for three days of cross-border deal-making.