Starhill Global REIT has reported a 0.6% dip y-o-y in gross revenue of $46.4 million for the 3QFY2020/2021 ended March.
Net property income (NPI), however, increased 0.6% y-o-y at $35.4 million. The stable NPI was mainly due to lower rental assistance given to tenants affected by Covid-19, lower operating expenses and the appreciation of the AUD. The figure was partly offset by the weaker performance of the REIT’s portfolio in Singapore.
In its business update for the 3QFY2020/2021, the REIT announced that its maiden distribution reinvestment plan has been successfully launched for the distributions per unit (DPUs) in the 1HFY2020/2021.