Soilbuild Reit on track to meet FY14 DPU forecast

Singapore

SOILBUILD Business Space Reit says it is well-placed to deliver its forecast distribution per unit (DPU) for the full financial year of 2014, having reported a DPU of 1.546 Singapore cents for the third quarter ended Sept 30 that beat its own forecast by 2 per cent.

The Q3 DPU came on the back of net property income of S$14.2 million, which exceeded its forecast by 1.7 per cent as the Reit received income from newly acquired Tellus Marine and incurred lower property expenses due to lower maintenance costs for multi-tenanted properties.