Suntec REIT’s Q2 DPU rises 6.6% to 2.97 S’pore cents

Suntec Real Estate Investment Trust said its second quarter distribution per unit rose 6.6 per cent to 2.97 cents.

This was on the back of higher net property income which rose 6.2 per cent on year to S$149 million for the three months ended June.

The property trust said this was mainly due to higher rents achieved for the Suntec City and Park Mall properties.

As at June, the committed occupancy for its overall office portfolio stood at 94.8 per cent.

For the first half of the financial year, the REIT renewed and signed around 375,000 square feet of office space that was up for renewal.

With this, the remaining office leases expiring in the current financial year amount to around 4.5 per cent of the total office net lettable area.

Source : Channel NewsAsia – 30 Jul 2009

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