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Soilbuild Reit posts 7.7% rise in DPU for Q2

Soilbuild Business Space Reit recorded a distribution per unit (DPU) of 1.615 Singapore cents for the three months ended June, 7.7 per cent above the previous year's Q2 DPU of 1.5 Singapore cents. DPU for the six months ended June was 3.248 Singapore cents, up 6.1 per cent.

Correspondingly, net property income (NPI) for Q2 rose 19.0 per cent, to S$16.7 million from S$14.0 million. For the half year period, net property income rose 15.1 per cent to S$32.5 million.

During the quarter, renewals and new leases were signed for over 210,000 sq ft bringing the total for H1 FY2015 to in excess of 500,000 sq ft. Occupancy remained high at 99.8 per cent.