Analysts are positive on Suntec REIT as it has shown growth from its local and overseas portfolios. This came on the back of the REIT announcing its latest 3QFY2021 ended September results, which saw distribution per unit (DPU) increase by 20.8% y-o-y to 2.232 cents.

Distributable income was 22% higher y-o-y at $63.7 million, while gross revenue improved by 16.5^ y-o-y to $92.7 million. Net property income saw a 45.5% y-o-y growth to $68.8 million.

The manager of the REIT attributes the stronger performance to contributions from the two newly acquired assets in London and the completed development of 477 Collins Street, Melbourne, as well as lower rent assistance for retail tenants in the current period.

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