SPH REIT's property on Orchard Road, Paragon. (Photo: REITsWeek)

SPH REIT has reported a distribution per unit (DPU) of 1.34 Singapore cents for its 1Q 2018, which is unchanged from what was seen in the corresponding period of the previous financial year.

The Singapore-listed retail REIT’s gross revenue for the period grew by 1.7% to SGD53.5 million (USD40.1 million) while net property income (NPI) came in 1.9% higher at SGD42.2 million.

Meanwhile income available for distribution to unitholders increased by 0.5% to SGD36.5 million.

The REIT, which has a portfolio of two shopping malls, maintained 100% occupancy for the quarter.

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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.