K-REIT Asia has reported a distributable income that is 24 percent higher than forecast at S$11.2 million.
This is for the eight months from the end of April when the property trust was listed on the Singapore Exchange.
K-REIT cited higher rental income and higher rental rates for new and renewed leases for the strong performance.
For the three months to December, it booked a distributable income of over S$4.2 million.
K-REIT expects the office market to continue to be strong this year, supported by sound economic fundamentals and growth in the financial and business services sectors.
Source: Channel NewsAsia, 22 January 2007