PLife Reit's Q3 DPU rises to 2.66 cents

PARKWAY Life Real Estate Investment Trust (PLife Reit) saw distribution per unit (DPU) for the third quarter ended September rise 3.5 per cent to 2.66 cents, from 2.58 cents a year ago.

This is on the back of a 3.5 per cent rise in distributable income to $16.1 million, after retaining $750,000 for capital expenditure.

Meanwhile, gross revenue dipped 2.4 per cent to $23.3 million, primarily due to the depreciation of the Japanese yen. This was offset by recognition of rental income from the properties acquired in July, and higher rent from the Singapore properties.