Mapletree Logistics Trust’s net property income up 3% in Q3 on back of property acquisition spree

It raked in $69.5m last quarter.

Mapletree Logistics Trust reported that its net property income for the third quarter increased 3% year-on-year to $69.5m, on back of a 6.2% increase in gross revenue to $82.9m.

Gross revenue was boosted by MLT’s six acquisitions in China, Singapore, Malaysia, and Korea, as well as the Mapletree Benoi Logistics Hub redevelopment project.

However, MLT’s strong revenue growth was partially offset by lower occupancy at several of its newly converted multi-tenanted buildings in Singapore.

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