Viva Industrial Trust DPU hikes 6.3% to 1.9 cents

VBP and Chin Bee acquisitions helped company revenue grow.

Viva Industrial Trust's (VIT) records are in good shape after its distribution per unit (DPU) made a 6.3% jump to 1.9 cents in Q2.

According to OCBC Investment Research, VIT's revenue jumped 18.0% to $27.6m, thanks to a $2.3m increase in contributions from Viva Business Park (VBP) and a $1.9m contribution from the Chin Bee acquisition.

Net property income (NPI) also increased 17.5% to $20.2m.

The total committed occupancy at Jackson Square also reached 89% by the end of June. This contributed more than 70,000 sq ft of new leases signed during the quarter.

Additionally, the OCBC research team said, "For UE Bizhub, we are optimistic that the completion of the Downtown line interchange at Expo MRT as well as the construction of underground walkway linked to the station will spur double-digit rental reversions."

The projects are expected to complete in late October.