Suntec Reit's Q3 unit distribution higher

Singapore

SUNTEC Real Estate Investment Trust's distribution per unit (DPU) for the third quarter ended September inched up from 2.289 Singapore cents a year ago to 2.328 Singapore cents.

This was on the back of total distributable income jumping 12.4 per cent, from S$51.8 million to S$58.3 million. Yeo See Kiat, chief executive officer of ARA Trust Management (Suntec) Limited, the manager of Suntec Reit, attributed the increase to the completion of Suntec City Phase 2 and contribution from 177 Pacific Highway, the Reit's acquisition in North Sydney.