Soilbuild Business Space Reit's Q4 DPU up 1.8%

SOILBUILD Business Space Reit said on Thursday its distribution per unit (DPU) for the fourth quarter rose 1.8 per cent to 1.614 Singapore cents, buoyed by higher income. Its DPU in the year-ago quarter stood at 1.585 Singapore cents.

Net property income rose 17.1 per cent to S$17.5 million for the three months ended Dec 31, 2015, on the back of higher rental revenue, and as the gain in operating expenses was slower than that of revenue.

Its manager has also officially appointed Roy Teo as chief executive officer. He had been acting CEO since Aug 3, 2015.