COMMERCIAL PROPERTY | Staff Reporter, Singapore

Mapletree Greater China Commercial Trust NPI up 5.4% to $70.90m in Q2

Higher rental rates from Festival Walk and Gateway Plaza boosted revenue.

Mapletree Greater China Commercial Trust's (MGCCT) net property income grew by 5.4% YoY from $67.28m to $70.90m in Q2.

According to its financial statement, distributable income rose 7.1% YoY from $49.07m to $52.53m, whilst distribution per unit (DPU) went up 5.8% YoY to $1.868.

Gross revenue rose 6.1% YoY to $88.1m due to higher average rental rates from Festival Walk and Gateway Plaza.

Festival Walk, Gateway Plaza and Sandhill Plaza made up 70%, 23%, and 7% of the portfolio gross revenue respectively.

Meanwhile, property operating expenses rose by 9.1% YoY to $17.2m due to Festival Walk's marketing events and higher property tax at Gateway Plaza. 

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.