The manager of Soilbuild REIT has reported distribution per unit (DPU) of 1.194 cents for the 4QFY2020 ended December, 29.1% higher than DPU of 0.925 cents in 4QFY2019.

Gross revenue for the quarter was up 5.4% y-o-y to $24.1 million due to the higher revenue contributions from 25 Grenfell Street and West Park BizCentral. The higher revenue was partially offset by lower contribution from 2 Pioneer Sector 1, which is under redevelopment and 72 Loyang Way, which was divested in April 2020.

Quarter-on-quarter (q-o-q), 4QFY2020 gross revenue rose 5.1% due to lesser net rent rebates.

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