SPH REIT's net property income up 4.3% to $39.3m in Q3

Thanks to Paragon, The Clementi Mall.

SPH REIT reported that its net property income grew 4.3% year-on-year to $39.3m in the third quarter, on back of higher rental income in both Paragon and The Clementi Mall.

Paragon enjoyed a rental uplift of 9.8% for new or renewed leases in the quarter, while The Clementi Mall recorded a negative rental reversion of 11.4% on 3.4% of total net lettable area.

Income available for distribution to unitholders grew 2% to was $34.6m, while distribution per unit was maintained at 1.35 cents.

The Q3 distribution will be paid to unitholders on 14 August 2015.

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