Suntec REIT DPU rises 15.8% YoY in H1

Sunctec REIT posted a 15.8% year-on-year growth in distribution per unit in the first half of 2022, due to the higher distributable income from operations and capital distribution.

It traced the rise in distributable income from operations mainly from the contributions from The Minster Building and Nova Properties in London, and Suntec City. However, this was partially offset by higher financing costs for acquisitions and higher interest rates. Meanwhile, the office portfolio in Singapore, Australia and the UK “remained resilient,” he said, adding that the Singapore office portfolio achieved positive reversions for 16 quarters.

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