Viva Q3 DPS grows 5% as portfolio occupancy improves to 90.9%

VIVA Industrial Trust's distribution per stapled security (DPS) rose 5 per cent to 1.900 Singapore cents for the third quarter as net property income grew 18.3 per cent to S$20.6 million.

Gross revenue for the three months ended June 30 increased by 16.8 per cent to S$28.3 million, driven by higher contributions from Viva Business Park and contributions from 6 Chin Bee Avenue, which was acquired in January.

For the first nine months of the year, net property income rose 21.3 per cent to S$61.1 million.

As at end-September, Viva's portfolio occupancy stood at 90.9 per cent, up from 88.6 per cent a year ago.

Viva is a Singapore-focused business park and industrial property trust.