MIT posts 2.4% rise in Q4 DPU

Singapore

BUOYED by contributions from new properties, industrial landlord Mapletree Industrial Trust (MIT) reported a 2.4 per cent year-on-year rise in distribution per unit (DPU) to 2.95 Singapore cents for the fourth quarter ended March 31, 2018.

This was underpinned by contribution from a build-to-suit project for HP Singapore and a 40 per cent interest in a portfolio of 14 data centres in the US, its Reit manager said on Monday.

Gross revenue and net property income both rose 2.9 per cent from a year ago to S$90.39 million and S$67.88 million, on the back of revenue contribution from the build-to-suit project for HP Singapore, which was partially offset by lower portfolio occupancies across…