A-REIT DPU up 5.5% following positive rental revisions

SINGAPORE - Ascendas Real Estate Investment Trust (A-Reit) has announced a distribution per unit (DPU ) of 3.841 Singapore cents following higher occupancies and positive rental revisions.

That was a 5.5 per cent increase for the first quarter ended June 30, the company said in a release on Wednesday.

Gross revenue rose 10.6 per cent year on year to S$180.5 million during the quarter. Positive rental reversion was achieved across all segments of the portfolio, the release said.

Occupancy rates for the overall portfolio and multi-tenant buildings improved to 88.8 per cent and 84.7 per cent as at June 30, up from 87.7 per cent and 83 per cent as of March 31 respectively.