Mapletree Commercial Trust DPU rises 9.9% to 2.2 cents

MCT acquired MBC I and revamped VivoCity.

Mapletree Commercial Trust's (MCT) distribution per unit (DPU) hiked by 9.9% YoY to 2.23 cents for Q2.

According to OCBC Investment Research, the company's gross revenue rocketed by 46.9% to $107.8m, whilst net property income (NPI) rose to $84.2m, 49.6% higher YoY.

The gains could be attributed to the acquisition of the Mapletree Business Center (MBC) I in August last year.

Despite high contributions, VivoCity's performance saw signs of slowdown from aging. "Management has been rigorously revamping the offerings of the mall which could mitigate this risk," OCBC Research Team said.

Due to revamped offerings, shopper traffic grew 7.2% whilst tenant sales grew 3.8%.