Fu Heng Warehouse, one of six properties in EC World REIT's initial portfolio. (Photo: EC World REIT)

EC World REIT has reported a distribution per unit (DPU) of 1.57 Singapore cents for its 4Q 2018, an increase of 4.4% year-on-year from the 1.504 cents achieved in 4Q 2017.

The REIT’s gross revenue and net property income (NPI) for the period increased by 13.5% and 16.1% year-on-year respectively, while distributable income rose by 5.4%.

EC World REIT has attributed these numbers mainly to contribution from Wuhan Meiluote, which was acquired in April 2018, and organic growth from built-in rental escalations and reversions.

On a full year basis, the REIT’s DPU rose 2.6% to 6.179 Singapore cents.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.