ESR-LOGOS REIT DPU down 18.6% in H1 2024

The decline was due to lower capital gains from previous divestments.

ESR-LOGOS REIT’s distribution per unit (DPU) stood at $0.01122, dropping 18.6% in H1 2024 due to lower capital gains from previous divestments.

Net property income (NPI) and gross revenue declined 8.1% and 9.2%, respectively, due to the divestment of non-core assets in FY2023 and Q2 2024, and the decommissioning of 2 Fishery Port Road.

On the flip side, rental reversion rose 11.2% driven by New Economy assets in Logistics (+14.3%) and High-Specs Industrial (+13.8%).

In addition, the REIT’s overall portfolio occupancy is also maintained at 91.4%. Its newly completed AEI at 7002 Ang Mo Kio Avenue 5 has also achieved 87% occupancy.

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