Ascott Residence Trust reports 9% rise in DPU for Q4 2012

Ascott Residence Trust reports a nine per cent increase in distribution per unit (DPU) to two cents for Q4 2012, compared to the previous year.

For the full year, DPU is 8.76 cents, representing a 6.4 per cent yield.

Unit-holders distribution for the fourth quarter also increased 10 per cent to nearly S$23 million compared to a year ago.

The REIT attributed better performance to contributions from recent acquisitions in Tokyo, Kyoto and Singapore. Serviced residences in China, the UK and the Philippines also contributed to higher revenue.

Looking ahead, the REIT said it is positive that its income will remain sustainable as the Asian economy continues to grow, and income from its European portfolio remains stable.

Ronald Tay, CEO of Ascott Residence Trust, said: “We will continue to invest in renovations of our properties. We see that Citadines Trafalgar Square (has a) very strong response. Some units we took from Ascott Jakarta, very strong response as well.

“We will continue to look at asset enhancement programs for some of our properties over the next one or two years to enhance value as well.”

Source : Channel NewsAsia – 23 Jan 2013

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