, Singapore

Sasseur REIT posts record-high Q1 distributable income of $24.7m

The Q1 distributable income translates to a 3.6% YoY higher DPU of $0.01822.

Sasseur REIT's distributable income rose 4.7% YoY to $24.7m in Q1 2022, marking a record high for the retail outlet mall REIT.

This translates to a 3.6% YoY higher distribution per unit (DPU) of $0.01822 which is also the REIT's highest 1st quarter DPU since listing in 2018.

During the quarter, the REIT's manager also saw higher portfolio occupancy at 95.4% and maintained a low gearing ratio of 26.2%, allowing it ample debt headroom to support future growth.

On the flip side, the REIT's portfolio sales dipped 3.6% YoY to $2.26b (RMB10.96b) due to weaker buying sentiment following COVID-19 outbreaks across China cities that affected shopper traffic, particularly in March 2022.

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