Mapletree Commercial Trust's Mapletree Business City. (Photo: Mapletree Commercial Trust)

Mapletree Commercial Trust has reported a distribution per unit (DPU) of 2.30 Singapore cents for its 3Q FY17/18, an increase of 0.9% from the 2.28 cents achieved in the corresponding period of the previous financial year.

The REIT’s gross revenue and net property income (NPI) for the period increased by 0.8% and 1.9% to SGD109.7 million and SGD86 million respectively, while distributable income for the quarter was SGD66.5 million, a 1.3% growth from 3Q FY16/17.

Sharon Lim, CEO of the REIT’s manager described Mapletree Commercial Trust’s performance during the quarter as one that was achieved amid headwinds in the operating environment.

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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.