Suntec REIT’s 3Q DPU marginally higher at 2.535 cents on divestment and lower revenue

SINGAPORE (Oct 20): The manager of Suntec REIT has reported a distribution per unit (DPU) of 2.535 cents for 3Q16 ended Sept, just 0.5% higher than its DPU of 2.522 cents a year ago. This brought DPU for the nine months ended Sept to 7.407 cents.

Total gross revenue fell 4.3% to $82.4 million from $86 million in 3Q15, largely due to the REIT’s divestment of Park Mall and lower revenue from Suntec Singapore.

The resulting drop in revenue was partially offset by revenue contribution from 177 Pacific Highway after practical completion, as well as an increase in revenue from launching Phase 3 of Suntec City mall, following the completion of the asset enhancement works.

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