Starhill REIT to disburse $4.4m rental rebates to eligible tenants
This brings the total amount of rental rebates to approximately $18.1m.
YTL Starhill Global REIT will disburse additional rental rebates of $4.4m to eligible retail and office tenants in Singapore, according to an announcement.
This brings the total amount of rental rebates that have been and will be disbursed to tenants to approximately $18.1m, which includes the property tax rebates from the government.
“In view of the extension of the ‘circuit breaker’ measures to 1 June 2020, we have extended additional rental assistance to share the burden faced by our tenants,” said Ho Sing, CEO of YTL Starhill Global.
The group’s portfolio is characterised by its retail leases in Singapore and Malaysia, which make up about 33.4% of revenue in Q3 FY 2020, whilst the office portfolio contributed another 14.8% of revenue in the same period.
The weighted average portfolio lease expiry by gross rent stands at 5.7 years as of 31 March.