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

Soilbuild Business Space REIT (Soilbuild REIT) has announced a distribution per unit (DPU) of 1.245 Singapore cents for its 3Q FY2018, a fall of 9.4% compared to what was reported in the previous financial year.

Its gross revenue and net property income for the period fell 3.6%, and 8.8% respectively, while distributable income also declined by 8.6%..

Soilbuild REIT has attributed the declines to the absence of income from KTL Offshore, and lower contribution from West Park BizCentral and Eightrium.

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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.