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Ascendas Reit's Q1 distribution per unit rises 2.5%

Published on Jul 23, 2014 9:27 PM

SINGAPORE - Ascendas Reit's amount available for distribution grew 2.8 per cent year on year to hit $87.6 million for the first quarter of this year.

Net property income was $116.3 million for the quarter, a 7.7 per cent rise.

Its manager, Ascendas Funds Management, said gross revenue for the period had risen by 8.1 per cent mainly due to recognition of rental income from Nexus@one-north, A-Reit City@Jinqiao, and finance lease interest income from a tenant.

Distribution per unit for the first quarter was 3.64 cents, up 2.5 per cent from a year back.

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