178 views
Logo from Suntec REIT

Suntec REIT's distributable income rises 3.4% YoY to $255.5m in FY22

The increase also pushed distribution per unit up to $0.08884.

Suntec REIT reported a distributable income of $255.5m in FY22 which was 3.4% higher compared to FY21.

Given the increase, the REIT's distribution per unit to unitholders also rose by 2.5% YoY to $0.08884.

In a bourse filing, the REIT attributed the increase in DPU to a "capital distribution of $23.0m, with improvement in distributable income from better operating performance being eroded by higher financing costs."

The REIT added that in the second half of the financial year, its Singapore and United Kingdom portfolios remained resilient. 

Contribution from its Australia portfolio, however,  was lower year-on-year "due to leasing downtime and absence of surrender fee received in H221."

"2H 22 DPU of 4.074 cents was weighed down by a sharp increase in financing costs," the REIT added.

Looking ahead, the REIT expects the revenue of its  Singapore Office Portfolio to strengthen on the back of past quarters of positive rent reversion.

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!