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Mapletree North Asia Commercial Trust's DPU up 19.1%

The Edge Singapore
The Edge Singapore10/28/2021 8:2 PM GMT+08  • 2 min read
Mapletree North Asia Commercial Trust's DPU up 19.1%
As at end of September, its portfolio occupancy rate was close to 98%.
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Mapletree North Asia Commercial Trust (MNACT) has announced distribution per unit of 3.426 cent for its 1HFY2021 ended Sept 30. This is an increase of 19.1% y-o-y over 2.876 cents paid this time last year.

The higher distribution is due to improvement in the performance of its portfolio.

Gross revenue for the same period was up 13.3% y-oy to $215.4 million. Net property income, meanwhile, was up 15.8% y-o-y to $161.9 million, due to lower rental reliefs given to its tenants, specifically those of Festival Walk mall in Hong Kong, its most valuable asset.

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