Ascott REIT distribution per unit up 29% to 2.14 cents

Ascott Residence Trust said its distribution per unit rose 29 per cent to 2.14 Singapore cents in the first quarter.

That is mainly due to contributions from the 28 properties acquired by Ascott Reit last year.

The real estate investment trust said that revenue for the first quarter climbed 55 per cent to S$67.3 million.

It expects to deliver the forecast distribution of 7.74 Singapore cents for the full year 2011.

Ascott REIT is a unit of Singapore property developer CapitaLand Limited.

Source : Channel NewsAsia – 20 Apr 2011

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