Paragon REIT’s gross revenue climbs 3% despite tenant sales dip
Tenant sales in Singapore fell 3% YoY.
Paragon REIT's gross revenue rose 3% YoY to $223.0m despite lower tenant sales in Singapore.
In Q3 FY 2024, the REIT's tenant sales in Singapore dropped 3% YoY to $671.8m, driven by Paragon.
Tenant sales at Paragon declined to $473.6m, whereas The Clementi Mall experienced an increase, reaching $198.2m.
The Singapore assets, however, reported higher revenues in Q3 of $135.5m and $35m, respectively.