K-REIT Asia books distributable income of S$40.8m

K-REIT Asia has booked a distributable income of S$40.8 million for the first nine months of the year.

That is almost triple compared to same period in 2007.

This works out a distribution per unit of 6.28 cents per unit.

Net property income climbed 31 per cent year-on-year to hit S$27.8 million, with a distribution yield of 8.72 per cent.

The jump was due largely to its acquisition of a one-third interest in One Raffles Quay late last year.

K-REIT also has Keppel Towers, GE Tower, Prudential Tower and Bugis Junction Towers under its management.

For the nine-month period, K-REIT saw an average occupancy of 99.4 per cent in its properties.

Source : Channel NewsAsia – 20 Oct 2008

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