Suntec REIT 3Q FY09 distribution income rises 8.8% to $47.74m

Suntec Real Estate Investment Trust (Suntec REIT) says it achieved a distribution income of $47.74 million for the period Jul 1 to Sept 30 FY09, which was 8.8% higher compared to the quarter ended Sept 30 2008 (3Q FY08). The DPU of 2.921 cents for the quarter was 2.3% higher year-on-year.

Suntec REIT achieved gross office revenue of $28.7 million for the quarter, which was 7.9% higher than in 3Q FY08, driven mainly by higher rents achieved for the Suntec City and Park Mall offices.

As at Sept 30, 2009, about 14,000 sq ft or 0.8% of the total office NLA is left for renewal in FY09.

As at Sept 30, 2009, the committed occupancy for the overall retail portfolio stood at 99.1%.

The committed retail passing rents continue to be stable at $10.96 psf per month for Suntec City Mall, $7.55 psf per month and $10.95 psf per month at Park Mall and Chijmes respectively.

Source : The Edge – 27 Oct 2009

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