Suntec REIT posts 5.6% lower 4Q DPU of 2.6 cents; unveils development plans for new commercial building at 9 Penang Road

SINGAPORE (Jan 25): Suntec REIT has declared a distribution per unit (DPU) of 2.6 cents for the fourth quarter ended Dec 2016, 5.6% lower from the previous year’s DPU of 2.75 cents.

This resulted from a decline in 4Q distributable income by 4.9% to $66.1 million, from $69.5 million a year ago.

The trust’s 4Q gross revenue rose 1.6% to $88.94 million from $87.54 million in the preceding year, which was largely attributable to the contribution of 177 Pacific Highway, North Sydney, Australia, which Suntec REIT holds a 100% interest in.

---

Related Stories

• CDL sells 20% of Union Square Residences by end of Nov 9 at an average price of $3,200 psf
• Metro adds another 25% stake in Fairbriar Real Estate for GBP18 mil
• Pan Hong Holdings expects a loss when it reports its 1HFY2025 ended Sept 2024

---