9 Penang Road, which is 30% owned by Suntec REIT. (Image: Suntec REIT)

Suntec REIT has reported a total distribution per unit (DPU) of 2.347 cents for its 4Q 19.

This is 9.4% lower than 4Q 18 mainly due to the enlarged unit base, and lower capital distribution.

Accordingly, the REIT’s total DPU of 9.507 cents for FY 2019 was 4.8% lower.

For 4Q 19, Suntec REIT’s gross revenue of SGD96.7 million improved 3.5% year-on-year.

This was mainly due to the contribution of 55 Currie Street as well as an increase in retail and office revenue from Suntec City.

However, these were partially offset by lower revenue from Suntec Convention.

As at 31 December 2019, the overall committed occupancy for the Singapore office portfolio stood at 99.1%.

By Shariffa Al-Habshee

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