CCT reports rise in Q3 DPU but expects lower income from negative rental reversions
But an anticipated rise in market rents will reduce pressure on reversions in 2018, it said
Singapore
OFFICE landlord CapitaLand Commercial Trust (CCT) reported a 2.6 per cent rise in distribution per unit (DPU) for the third quarter ended Sept 30 to 2.36 cents on the back of higher net property income.
Though market rents for Grade A office have reportedly bottomed out, it is still expecting lower net property income in fiscal 2018 at select properties in its current portfolio.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
ByteDance prefers TikTok shutdown in US if legal options fail: sources
CapitaLand Investment posts total revenue of S$650 million for Q1
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
Carrier AirAsia discloses new listing plans under RM6.8 billion units merger