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Home / Capital / Results

Starhill Global REIT reports 19.2% lower NPI in 1QFY2020/2021 due to rental assistance

Results

Starhill Global REIT reports 19.2% lower NPI in 1QFY2020/2021 due to rental assistance

Felicia Tan Published on Wed, Oct 28, 2020 / 11:46 PM GMT+8

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The manager of Starhill Global REIT reported gross revenue of $43.1 million, down 10.3% y-o-y for 1QFY2020/2021 ended September.

For the same quarter, net property income (NPI) fell 19.2% y-o-y to $29.8 million.

In its business update released on Oct 28, the manager says the decline in gross revenue and NPI was primarily attributable to rental assistance to eligible tenants affected by the Covid-19 pandemic. This includes allowance for rental arrears and rebates mainly for the REIT’s properties in Australia.