Asia Square Tower 2 (Photo: REITsWeek)

CapitaLand Commercial Trust (CCT) has reported a distribution per unit (DPU) of 2.20 Singapore cents for its 3Q 2018, an increase of 8.9% year-on-year from the 2.02 cents achieved in 2017.

The REIT’s gross revenue and net property income for the quarter rose by 35.6% and 37.3% year-on-year respectively, while distributable came in at SGD82.7 million (USD59 million).

CCT has attributed its performance in 3Q 2018 mainly to income from newly acquired properties, Asia Square Tower 2 and Gallileo, although this was partially offset by the divestments of Wilkie Edge and Twenty Anson.

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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.