Parkway Life Real Estate Investment Trust (PLife REIT) posted a 28.3 per cent rise in its Q3 gross revenue on-year, to S$21.2 million.
It said its higher revenue was mainly due to additional revenue contribution amounting to S$1.8 million from its Japanese properties.
The properties were acquired in the fourth quarter of 2009.
PLife REIT also reported its Q3 net property income rose 26.5 per cent on-year to S$19.4 million.
It added that as a result of strong operating performance, its third quarter distributable income rose 17.8 per cent on-year to S$13.6 million.
Moving forward, PLife REIT said it was well-poised for continual growth given its sturdy business fundamentals and clear growth strategy.
Source : Channel NewsAsia – 8 Nov 2010