MPACT’s NPI up 82.2% YoY to $177.4m in Q4 FY22/23

The real estate firm said all markets documented positive rental uplifts.

Mapletree Pan Asia Commercial Trust (MPACT) said its net property income grew 82.2% to $177.4m in the fourth quarter FY22/23.

“This was boosted by the full-quarter contribution from properties acquired through the merger and higher contribution from the Singapore portfolio,” it said.

For FY22/23, over 2.4 million square feet of net lettable area was renewed or relet, including leases with major tenants such as Arup, Bank of America, BMW and Google.

Its full-year distribution per unit totalled 9.61 cents.

Sharon Lim, CEO of MPACT Manager, said, “Our core assets, VivoCity and MBC, continued to deliver improved financial performance, generating a combined $445.8m in gross revenue and $345.9m of NPI for the year.”