Mapletree Industrial Trust’s net property income rises 9.7% YoY to $518m in FY22/23

Despite the increase, the REIT posted a lower DPU of $0.1357.

Mapletree Industrial Trust (MIT) recorded a 1.7% decrease in its distribution per unit (DPU) for FY22/23 despite improvement in its net property income (NPI).

According to its latest business updates, MIT’s NPI rose by 9.7% YoY to $518m; however, the REIT’s DPU fell to $0.1357 from $0.1380 in FY21/22.

The MIT’s manager said the” challenging macroeconomic environment as well as headwinds from higher operating expenses and borrowing costs have affected MIT’s financial performance for the financial year.”

Looking ahead, the REIT will focus on strengthening its portfolio through accretive acquisitions and developments, such as the Mapletree Hi-Tech Park @ Kallang Way.