ARA Asset Management's revenue, earnings sharply up in Q3

ARA Asset Management, a major real estate fund manager in the region, on Monday reported a 60 per cent increase in Q3 revenue to S$52.8 million.

The better topline was driven by higher management fees from Reits which had performed better and achieved higher valuations for their property portfolios, as well as fee contribution from acquisitions made by its Reits and funds.

ARA is managing eight Reits and seven private funds.

"Acquisition, divestment and performance fees for Q3 2014 were S$16.3 million, compared to S$0.6 million in Q3 2013," it said.

Net profit rose 53 per cent in tandem to S$30.7 million.