Suntec Real Estate Investment Trust has announced a distribution income of $47.7 million for the period April 1 to June 30 June FY09 (2Q FY09), which was 13.5% higher compared to the quarter ended June 30, 2008 (2Q FY08). The DPU of 2.977 cents for the quarter was 6.6% higher year-on-year.
Suntec REIT achieved gross revenue of $64.5 million for the quarter, which was 8.9% higher than in 2Q FY08. For the first half FY09, gross revenue rose 12.4% year-on-year to $129.4 million. This was attributed mainly to higher rents achieved for the Suntec City and Park Mall properties. As at June 30, the committed occupancy for the overall office portfolio stood at 94.8%.
For the first half of 2009, Suntec REIT has renewed and signed about 375,000 sq ft of office space up for renewal in FY09. With this, as at June 30, the remaining office leases expiring in FY09 amounts to about 84,000 sq ft or 4.5% of the total office NLA.
As at June 30, the committed retail passing rent at Suntec City Mall stood at $10.98 psf per month, while rents at Park Mall and Chijmes achieved $7.63 psf per month and $10.71 psf per month respectively.
Suntec REIT’s revenue from other income initiatives achieved $1.68 million for the quarter.
As at June 30, the committed occupancy for the overall retail portfolio stood at 98.4%.
For 2Q09, Suntec REIT recorded gross revenue of $64.5 million and income available for distribution of $47.7 million, which was 8.9% and 6.2% higher year-on-year respectively.
The distribution per unit amounted to 2.977 cents, which was 6.6% higher year-on-year.
For 1H FY09, Suntec REIT recorded gross revenue of $129.4 million and income available for distribution of $94 million, which was 12.4% and 18.1% higher year-on-year respectively. The distribution per unit amounted to 5.895 cents, which was 11% higher year-on-year.
Source : The Edge – 30 Jul 2009