Mapletree Commercial Trust NPI surges 23.4% to $84.42m in Q2

Mapletree Business City I's contribution to revenue rose by $18.3m after its acquisition in 2016.

Mapletree Commercial Trust (MCT) is on a roll as its net property income (NPI) for Q2 rose by 23.4% YoY from $68.41m to $84.42m.

According to its financial statement, distributable income grew by 20.6% YoY from $53.65m to $64.69m. Distribution per unit (DPU) inched up 9.3% YoY to 2.24 cents.

Revenue was also lifted 21.7% to $107.2m, mainly due to the full quarter contribution from Mapletree Business City I (MBC I) after it was acquired on 25 August 2016, which was higher by $18.3m.

There was also a higher contribution from VivoCity, offset by lower contribution from PSA Building and Mapletree Anson.

Revenue for VivoCity was $1.7m thanks to higher rental income from new and renewed leases, achieved together with the completed renovation on Basement 2, Level 1 and Level 3, and the effects of the step-up rents in existing leases.

Revenue for PSA Building and Mapletree Anson were $0.5m and $0.3m lower mainly due to lower occupancy.

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

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!

I want to download the media kit