SPH REIT's gross revenue rises 0.9% YoY to $211.6m in Q3

The growth was attributed to further relaxation of restrictions in SG and Australia.

SPH REIT's gross revenue rose 0.9% to $211.6m in Q3 22 following recovery from its tenant sales in Singapore and Australia. In Q321, SPH REIT logged a gross revenue of $209.6m.

In a bourse filing, the REIT said Singapore and Australia posted 12% YoY and 2% YoY higher sales, respectively.

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The higher sales were attributed to the further relaxation of social restrictions in both markets.

The REIT has three assets in Singapore namely Paragon, The Clementi Mall, and The Rail Mall. In Australia, the REIT has two.

The REIT's Singapore properties have an occupancy rate of 98.6%, 99.2%, and 100%, respectively.