Suntec REIT's net property income jumped 17.3% to $51.3m in Q1
Thanks to the opening of Phase 2 of Suntec City mall.
Suntec REIT reported that its net property income grew 17.3% year-on-year to $51.3m in the first quarter, on back of the opening of Phase 2 of Suntec City mall and stronger performance from Suntec Singapore.
Suntec REIT's gross revenue grew 12.9% to $74.5m, while distributable income grew 10.1% to $56m. Distribution per unit remained flat at 2.23 cents.