Suntec REIT property at 9 Penang Road. (Photo: REITsWeek)

Data from Suntec REIT’s latest disclosure have been updated into the Singapore REITs table.

Suntec REIT reported distribution per unit (DPU) of 4.154 cents for its 1H 2021, which was 26.1% higher than the period ended 30 June 2020.

The increase in DPU was a result of higher distributable income of SGD118.2 million, an increase of 14.6% year-on-year.

This strong performance was driven by the resilience of the office portfolio in Singapore, Australia and the United Kingdom, said the REIT.

It was also underpinned by contributions from newly acquired assets and completed developments as well as lower rent assistance for retail tenants and stronger Australian dollar, the REIT added.

Suntec REIT’s latest disclosure on its business operations can be viewed here.

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.