Soilbuild Reit's Q1 DPU down 4.7%

Singapore

SOILBUILD Business Space Reit's (Soilbuild Reit) distribution per unit for the first quarter ended March 31 dipped 4.7 per cent from 1.633 Singapore cents to 1.557 Singapore cents while distributable income rose 9.6 per cent, from S$13.3 million to S$14.6 million.

Gross revenue for the quarter rose 8.2 per cent from S$18.6 million to S$20.1 million, mainly due to additional rental revenue from Technics and Solaris. They amount to S$2.0 million and S$0.1 million respectively. This was partially offset by a reduction in revenue from Tuas Connection and West Park BizCentral amounting to S$0.4 million and …