A-Reit's Q1 DPU rises 5.5%

Singapore

ASCENDAS Real Estate Investment Trust (A-Reit) inked a 5.5 per cent rise in distribution per unit (DPU) for the fiscal first quarter ended June 30 to 3.841 Singapore cents on the back of positive rental reversions and higher occupancies at its business space and industrial properties.

Gross revenue rose 10.6 per cent year-on-year to S$180.5 million for the quarter.

Positive rental reversion was achieved across all segments of the portfolio, A-Reit said. A weighted average rental reversion of 6.6 per cen…