SPH REIT's net property income up 3.3%

SINGAPORE - The manager of SPH REIT has reported that gross revenue for its financial year that ended on Aug 31 was up 1.4 per cent to $205.1 million, and net property income was up 3.3 per cent to $155.6 million.

SPH REIT Management said that the revenue growth was due to higher rental income in both Paragon and The Clementi Mall and "proactive management of expenses".

The income available for distribution to unitholders was $138.5 million, which translates to an aggregate distribution per unit of 5.47 cents. This is 0.7 per cent higher against last year, SPH REIT Management said in a statement on Monday (Oct 12).

sinsh@sph.com.sg