Soilbuild REIT's Eightrium in Changi Business Park (Photo: REITsWeek)

Soilbuild Business Space REIT has reported a distribution per unit (DPU) of 1.383 Singapore cents for its 4Q 2017, a decrease of 11.9% year-on-year from the 1.570 cents achieved in the corresponding period of 2016.

This after gross revenue and net property income (NPI) fell by 4.3% and 6.0% respectively mainly due to lower contribution from 72 Loyang Way.

Correspondingly the REIT’s FY2017 DPU was recorded at 5.712 cents, a fall of 6.2% from the 6.091 cents recorded for FY2016.

The results represents Soilbuild REIT’s second straight year of falling full-year DPUs, since achieving 6.487 cents in FY2015.

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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.