Frasers Centrepoint Trust property, Causeway Point. (Photo: REITsWeek)Frasers Centrepoint Trust property, Causeway Point. (Photo: REITsWeek)

Frasers Centrepoint Trust has announced a distribution per unit (DPU) of 2.97 Singapore cents for its 4Q 2017, an increase of 5.5% over the same period last year.

The Singapore-listed retail REIT’s gross revenue for the period was up 8.1% year-on-year to SGD48.2 million, while net property income increased by 10.0% to SGD34.6 million.

Accordingly, distributable income for the quarter came in 6.1% higher year-on-year at SGD27.48 million.

The REIT has attributed the growth primarily to higher rental income and improved occupancy at Northpoint City North Wing.

Also bolstering results for the period were Causeway Point and Changi City Point, which registered year-on-year revenue growth of 2.5% and 13.6%, respectively.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.