Frasers Centrepoint Trust manager bullish on leasing demand even as H1 DPU slips 0.1% to S$0.0613

FRASERS Centrepoint Trust ’s (FCT) distribution per unit (DPU) inched down 0.1 per cent to S$0.0613 for the first half ended Mar 31, from S$0.06136 the year before.

The retail real estate investment trust’s (Reit) gross revenue and net property income (NPI) improved. However, property expenses were higher year on year, financial results released on Wednesday (Apr 26) showed.

Committed occupancy for the Reit’s retail portfolio hit a high of 99.2 per cent in the first half. Century Square’s occupancy grew to 96.8 per cent from 88.7 per cent, after the manager secured lease commitment for the property’s anchor cinema space.