Mapletree Commercial net property income up 10.7% y-o-y to $189.56m

Portfolio occupancy hovered at 96%.

Mapletree Commercial Trust's net property income was up 10.7% to hit $189.56m.

This was mainly due to lower rental rebates when compared to a year ago. 

1HFY21 DPU also saw a similar increase by 5.3% y-o-y to 4.39 cents. 

Sharon Lim, CEO, Mapletree Commercial Trust Management, has pointed to their office and business park assets having an occupancy rate of 86%. This, according to her, extended their lease expiry profile. 

Income available for distribution also saw an 18.7% increase to $146.46m.

Portfolio NPI, meanwhile, increased 19.7% y-o-y, with a 77.9% NPI margin. 

VivoCity also saw tenant sales for 1HFY21 remain at around 75% of pre-Covid levels, with the property having a 99.6% committed rate as of September 30, 2021.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...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.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!