SINGAPORE (Aug 8): The manager of BHG Retail REIT, the pure-play China retail REIT, has declared a distribution per unit (DPU) of 2.74 cents in 1H17, up 0.7% from 2.72 cents in 1H16.

Gross revenue in fell 0.2% to $31.35 million in 1H17 compared with $31.41 million in 1H16 due primarily to the effects of the adoption of the VAT system in China.

Net Property Income rose 4% to $21.3 million from $20.5 million despite higher property-related tax expenses in Beijing Wanliu Mall due mainly to the increase in rental revenue.

Chan Iz-Lynn, CEO of BHG Retail Trust Management, says, “Looking ahead, we will continue to identify opportunities to value-add and enhance our malls organically, at the same time pursue opportunities that are DPU-yield accretive, and strive to deliver sustainable returns to our unitholders.”

Units in BHG Retail REIT closed at 74 cents on Tuesday.