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Data from Elite Commercial REIT’s latest disclosure has been updated into the Singapore REITs table.

Elite Commercial REIT has reported revenue of GBP9.2 million and distributable income of GBP6.1 million for its 1Q 2022.

These represent year-on-year increases of 39.4% and 36.2% respectively.

Accordingly, 1Q 2022 DPU was 1.28 pence, 4.9% higher than 1Q 2021 DPU of 1.22 pence.

The REIT’s portfolio remains 100% occupied as at 31 March 2022 with almost all rent due for the three-month period from April 2022 to June 2022 collected in advance, it added.

Elite Commercial REIT was last done on the Singapore Exchange at GBP0.645, which presently implies a distribution yield of 8.42% 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.