Paragon REIT NPI up 0.1% YoY to $106.1m in H1

However, its DPU declined by 15.7% to 2.4 cents.

Paragon Reit posted a slight increase of 0.1% year-on-year (YoY) in net property income to reach $106.1m as tourist arrivals and retail sales in Australia continue to improve.

In a statement, Paragon REIT’s Manager said the company’s revenue also recorded an uptick of 0.6% to reach $143m.

Due to resilient retail spending, Paragon REIT maintain a near full occupancy across its portfolio at 97.8%.

The portfolio rental reversion rate also turned positive from -4.1% in 2022 to 6.9% due to the easing of restrictions.

ALSO READ: Paragon REIT NPI up 3.3% YoY to $279.9m

“Looking ahead, the resilient domestic demand and the gradual increase in international arrivals are expected to contribute to improved performance overall. Through our portfolio of quality assets and proactive asset management, we are well-positioned to capitalise on the retail recovery,” said Paragon REIT Chairman Leon Horn Kee.

On the other hand, its distribution per unit was down 15.7% YoY to 2.42 cents driven by the increase in interest cost which was up to $25.5m from $14.7m.

Follow the link for more news on

Paragon REIT

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