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MNACT posts 14.9% increase in 9MFY2022 NPI to $247.4 mil

Samantha Chiew
Samantha Chiew1/27/2022 08:37 PM GMT+08  • 2 min read
MNACT posts 14.9% increase in 9MFY2022 NPI to $247.4 mil
MNACT posts 14.9% increase in 9M NPI to $247.4 mil.
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In its 9MFY2022 ended December 2021 business update, Mapletree North Asia Commercial Trust (MNACT) announced that its net property income (NPI) has increased by 14.9% y-o-y to $247.4 million from $215.4 million.

This is on the back of a 12.8% increase in gross revenue to $328.0 million from $290.8 million.

The growth was mainly y due to the lower rental reliefs of S$4.7 million granted to retail tenants at Festival Walk during the period and the contribution from the Hewlett-Packard Japan Headquarters Building acquired on June 18, 2021.

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