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A-Reit's DPU up 13.7% in Q2

A-REIT posted a total amount available for distribution of S$100.2 million for the second quarter ended September, up 14.0 per cent year-on-year. This resulted in a 13.7 per cent increase in distribution per unit (DPU) to 4.16 Singapore cents, compared with 3.66 Singapore cents a year ago.

Its net property income rose 8.0 per cent to S$123.8 million, from S$114.7 million a year ago.

As at end September, A-Reit's portfolio had a weighted average lease to expiry of about 3.6 years.

Occupancy rates for the overall portfolio and multi-tenant buildings improved to 89.0 per cent versus June 2015's figure of 88.8 per cent, and 84.9 per cent vs June 2015's figure of 84.7 per cent, respectively. This was mainly attributable to higher occupancies at 40 Penjuru Lane (75.5 per cent from 70.9 per cent the previous quarter), Aperia (90.4 per cent from 83.9 per cent the previous quarter), and A-Reit City @Jinqiao (60.7 per cent from 58.1 per cent the previous quarter).

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Positive rental reversion was achieved across all segments of the portfolio. A weighted average rental reversion of 9.1 per cent was achieved for leases renewed in the second quarter. Weighted average lease term of new leases signed in second quarter was three years.