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Suntec Reit Q2 DPU slips 0.3% on dilution, retail weakness

Trust acquires 50% stake in Melbourne office building for A$414.17m

Published Wed, Jul 26, 2017 · 09:50 PM

Singapore

SUNTEC Real Estate Investment Trust's second-quarter distribution per unit slipped 0.3 per cent to 2.493 Singapore cents as newly issued units and lacklustre retail and convention income offset a stronger office business.

ARA Trust Management (Suntec), the manager of the trust, which holds office and retail assets that include the Suntec City retail mall and convention centre, also announced on Wednesday a A$414.17 million (S$446.4 million) acquisition of a 50 per cent stake in a Melbourne office building.

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