K-REIT Asia reports distributable income of S$11.2m

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 

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