The REIT faced lower occupancy and higher finance expenses.With lower NPI, the REIT's income available for distribution also declined, dropping 19.5% YoY to US$12m.
The REIT attributed its lower distributable income to lower revenue on lower occupancy and higher finance expenses attributed to higher interest rates....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
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Singapore properties boost OUE Commercial REIT’s NPI by 6.9% YoYpstrongThese properties include Hilton Singapore Orchard./strong/p pThe net property income of OUE Commercial REIT rose 6.9% YoY to $60.5m in 1Q24, driven by enhanced contributions from Hilton Singapore Orchard and the robust performance of Singapore's commercial properties.
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Elite Commercial REIT’s NPI dips 3.7% YoY despite revenue increasepstrongNPI for the period was £8.3m./strong/p pElite Commercial REIT saw its net property income dip by 3.7% YoY to £8.3m in 1Q24 despite higher revenue./p pRevenue for the period was £9.2m, 0.8% YoY higher. The REIT attributed its higher revenue to rent escalations in April 2023.
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Daiwa House Logistics Trust NPI up 4.6% YoY in 1Q24pstrongIts gross rental income also rose 1.9%./strong/p pSGX-listed Daiwa House Logistics Trust (DHLT) registered a net property income of JPY1.2b ($8.74m) in 1Q24, reflecting a 4.6% YoY increase./p pThe company attributed its improved performance to higher portfolio occupancy./p pGross rental income rose 1.9% YoY to JPY1.
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Mapletree Logistics Trust's DPU declines 2.5% YoY in 4Q23/24 despite higher NPIpstrongNPI for the period was 0.6% YoY higher./strong/p pMapletree Logistics Trust (MLT) reported a 2.5% YoY lower available distribution per unit (DPU) of $0.02211 in 4QFY23/24 despite higher net property income (NPI) and amount distributable to unitholders.
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CICT NPI rises 6.3% YoY to $293.7M in 1Q24pstrongGross rental income growth and lower operating expenses drove the uptick./strong/p pCapitaLand Integrated Commercial Trust (CICT) saw its net property income (NPI) increase 6.3% YoY to $293.7m in 1Q24, driven by gross rental income growth and lower operating expenses./p pThe REIT also posted a 2.
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Suntec REIT's distributable income dips 1.1% YoY in 1Q24pstrongWith lower income, the REIT also reported a 1.8% dip in DPU./strong/p pSuntec REIT posted a 1.1% YoY lower distributable income to unitholders of $44m in 1Q24./p pThe REIT also recorded a 1.8% YoY drop in its distribution per unit (DPU) from operations to $0.01511.
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