, Singapore

Far East Hospitality Trust net property income up 2.6% to $18.31m

Gross revenue from commercial premises saw a slight uptick in Q3.

Far East Hospitality Trust reported a net property income of $18.31m for the third quarter of 2021, 2.6% higher than the $17.85 recorded for the same period last year.

This translated to $13.52m income available for distribution, up 12.5% from last year.

Master lease rental for the hotel segment remained at the same fixed level from last year, at $14.25m.

Whilst there was a 9.8% decrease in revenue from serviced residences y-o-y to $2.64m, there was a 12.4% increase in revenue from commercial premises, at $3.87m.

Moving forward, the company sees new prospects in tourism in the Mandai precinct, Sentosa, and integrated resorts.

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