Mapletree Greater China Commercial Trust's Sandhill Plaza (Photo: Colliers International)

Mapletree Greater China Commercial Trust has reported a higher distribution per unit (DPU) for its 3Q FY 17/18, but the mixed commercial REIT is also seeing its third consecutive quarter of declining overall portfolio occupancies for the period.

The REIT’s DPU came in at 1.868 Singapore cents for the quarter, an increase of 5.1% over the 1.778 cents achieved in the corresponding period of the previous financial year.

Gross revenue rose marginally by 0.7% year-on-year to SGD88.4 million (USD67.6 million) but net property income (NPI) remained flat at SGD71.4 million.

The REIT has attributed the higher DPU to lower translated average cost of debt post re-financing, and realised foreign exchange gain.

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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.