SINGAPORE (Oct 21): The manager of Viva Industrial Trust (VIT), the business park and industrial property trust, has reported a 9.9% growth in 3Q DPS (distribution per stapled security) to 1.81 cents from a year ago.
Net property income for 3Q grew by 39.2% to $17.4 million, on the back of a 31.9% jump in gross revenue to $24.3 million, led by higher contributions from the three newly-acquired properties, namely namely Home-Fix Building, 11 Ubi Road 1 and 30 Pioneer Road as well as asset enhancement initiative (AEI) at Viva Business Park. Distributable income increased by 35.2% to reach $15.7 million in 3Q.
VIT’s manager says Phase 3 of the AEI at 750B at Viva Business Parkis expected to complete by 4Q. With the scheduled completion of all AEI works, the business park is expected to progressively contribute additional income to VIT.
