Suntec Reit posts Q3 DPU of 2.289 cents, down 2.6%

SUNTEC Real Estate Investment Trust (Suntec Reit) posted a distribution per unit (DPU) of 2.289 cents for the third quarter ended September, down 2.6 per cent from 2.35 cents posted a year ago.

Inclusive of $4.5 million from the sale proceeds of Chijmes to boost capital distribution, total amount available for distribution fell 1.8 per cent to $51.8 million, from $52.8 million the previous year.

Gross revenue rose 5.3 per cent to $65.9 million, while net property income rose 4.7 per cent to $40.3 million. This was mainly due to the opening of Suntec Singapore following the completion of its asset-enhancement initiative (AEI) works.