Suntec REIT’s net property income jumped 23.5% to $56.9m
Thanks to the completion of Suntec City Phase 2.
Suntec REIT reported that its net property income grew 23.5% year-on-year to $56.9m in the second quarter, mainly due to the opening of Phase 2 of Suntec City mall and stronger performance from Suntec Singapore.
The REIT's distribution per unit (DPU) grew 10.3% to 2.5 cents.
For the first half of the year, Suntec REIT’s gross revenue grew 16.3% to $155.9m while net property income rose 20.5% to $108.3m.