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Soilbuild REIT reports 11.9% lower 4Q DPU of 1.383 cents

PC Lee
PC Lee1/17/2018 08:31 PM GMT+08  • 2 min read
Soilbuild REIT reports 11.9% lower 4Q DPU of 1.383 cents
SINGAPORE (Jan 17): The manager of Soilbuild Business Space REIT (Soilbuild REIT) announced a DPU of 1.383 cents for the 4Q17 ended Dec. This was 11.9% lower compared to 4Q16 DPU of 1.57 cents.
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SINGAPORE (Jan 17): The manager of Soilbuild Business Space REIT (Soilbuild REIT) announced a DPU of 1.383 cents for the 4Q17 ended Dec. This was 11.9% lower compared to 4Q16 DPU of 1.57 cents.

SB REIT Management says gross revenue and net property income (NPI) fell by 4.3% to $20.7 million and 6.0% to $17.8 million respectively mainly due to lower contribution from 72 Loyang Way.

For FY17 ended Dec, Soilbuild REIT’s revenue and NPI grew 4.5% to $84.8 million and 4.0% to $73.5 million respectively largely due to the full year contribution from Bukit Batok Connection, a property acquired in September 2016. FY17 distribution income fell 0.5% to $59.9 million while DPU fell 6.2% to $5.7 million.

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