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Starhill Global REIT reports stronger 3Q revenue and NPI, positive outlook across all geographies

Lim Hui Jie
Lim Hui Jie4/28/2022 09:48 PM GMT+08  • 3 min read
Starhill Global REIT reports stronger 3Q revenue and NPI, positive outlook across all geographies
Photo Credit: The Edge Singapore/Samuel Isaac Chua
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Starhill Global REIT has reported a 4.2% and 8.7% y–o-y increase in gross revenue and net property income respectively for its 3QFY2021 ended March.

The REIT’s revenue stood at $48.4 million, while NPI was at $35.8 million. This was mainly due to the cessation of rental rebates following the completion of The Starhill’s asset enhancement works in December 2021 and lower rental assistance to tenants.

However, these gains were partially offset by lower contributions from Wisma Atria Retail and depreciation of the Australian dollar, affecting the REITs Australian properties.

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