Data from Mapletree North Asia Commercial Trust’s latest disclosure is in the Singapore REITs table.
Mixed commercial REIT Mapletree North Asia Commercial Trust (MNACT) has posted a 2.8% increase in its DPU for the second half-year ended March 2022.
It came in at SGD0.03393, up from SGD0.03299 a year earlier.
Gross revenue for the period was up 4.9% to SGD211.2 million from SGD201.3 million a year earlier.
Correspondingly, net property income (NPI) grew 5.1% to SGD160.1 million from SGD152.3 million.
Distributable income rose 5.6% to SGD119.7 million, up from SGD113.3 million a year earlier.
MNACT has attributed the increase in gross revenue and NPI to lower rental reliefs granted to retail tenants at its flagship asset, Festival Walk.
Related: Mapletree North Asia Commercial Trust sees continued inflow of institutional funds
MNACT was last done on the Singapore Exchange at SGD1.23, which presently implies a distribution yield of 5.57% according to data on the Singapore REITs table.