FCT's Q3 DPU rises 6% on higher rentals
Higher occupancy also contributes to gross revenue rising 3.1% to S$41.2m
FRASERS Centrepoint Trust (FCT) reported a 6 per cent rise in distribution per unit (DPU) to 3.022 Singapore cents in the third quarter ended June 30, thanks to higher retail rentals and occupancies.
The suburban mall operator enjoyed 7.8 per cent of positive rental reversions in the third quarter over the preceding leases contracted three years ago. Its portfolio occupancy also grew to 98.5 per cent from 96.8 per cent in the preceding quarter.
"We expect FCT's portfolio occupancy and rental rates to remain sustainable," said the trust manager's chief executive, Chew Tuan Chiong. "The outlook for the retail market is expected to remain stable, given the trends in the growing median household income and sustained low unemployment rate."
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