BHG Retail REIT began with an initial portfolio of five retail properties in China. (Photo: REITsWeek)BHG Retail REIT began with an initial portfolio of five retail properties in China. (Photo: REITsWeek)

Data from BHG Retail REIT’s latest disclosure is in the Singapore REITs table.

BHG Retail REIT reported on 25 February that its gross revenue and net property income (NPI) for FY2021 came in at SGD70.6 million and SGD41.8 million respectively.

These represent year-on-year increases of 16.6% and 14.9% respectively.

Accordingly, the REIT’s FY 2021 distributable income grew 17.2% year-on-year to SGD11.1 million while distribution per unit (DPU) grew 11.3% to 2.17 Singapore cents.

The REIT’s committed occupancy rate was at 97.0% as at 31 December 2021.

Its gearing ratio was at 34.1% and more than 80% of its borrowings are denominated in SGD and USD while the remaining 20% is denominated in Renminbi.

In 2021, Chinese urban residents’ disposable income per capita grew 8.2% year-on-year, said the REIT.

“Notwithstanding the resurgence of cases, the Chinese authorities have been swift in curbing widespread and extended periods of outbreaks since the onset of the pandemic”, it posited.

“BHG Retail REIT’s portfolio of retail properties, situated in high population density neighbourhoods, will continue to be underpinned by residents’ rising income, stable employment and China’s emphasis on domestic consumption”, it added.

BHG Retail REIT was last done on the Singapore Exchange at SGD0.545, which presently implies a distribution yield of 3.98% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

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