Net property income (NPI) and distribution per unit (DPU) figures reported by the nine Singapore-exposed industrial REITs for the quarter ended 31 March 2019 point to an uneven recovery across the sector.
Several large-cap REITs have reported double-digit growth in NPI and DPU at the end of the quarter, led by income from new acquisitions.
However, two Singapore-focused REITs saw year-on-year declines in DPU for the same period.
Leading the list of gainers is ESR-REIT, which saw a 19% and 24% jump in DPU and NPI respectively.
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