Mapletree China commercial trust posts 11.9% Q2 DPU growth

Singapore

MAPLETREE Greater China Commercial Trust (MGCCT) has posted an 11.9 per cent year-on-year growth in distribution per unit (DPU) to 1.56 Singapore cents for the second quarter ended June 30 with strong rentals for its retail and office assets, beating its forecast by 9.3 per cent.

MGCCT's gross revenue rose 8.6 per cent to S$63.8 million as Festival Walk (a retail mall in Hong Kong) and Gateway Plaza (a Grade-A office in Beijing) both raked in higher revenues. Net property income rose 9.9 per cent to S$52.6 million, exceeding its forecast by 8.8 per cent.