CCT reports rise in Q3 DPU but expects lower income from negative rental reversions

Singapore

OFFICE landlord CapitaLand Commercial Trust (CCT) reported a 2.6 per cent rise in distribution per unit (DPU) for the third quarter ended Sept 30 to 2.36 cents on the back of higher net property income.

Though market rents for Grade A office have reportedly bottomed out, it is still expecting lower net property income in fiscal 2018 at select properties in its current portfolio.

This will stem from the full impact of negative rental reversions for leases committed this year flowing through in 2018, and poten…