Resilient portfolio for Mapletree Greater China Commercial Trust but near term outperformance limited

SINGAPORE (Oct 24): Mapletree Greater China Commercial Trust (MGCCT) on Monday announced 1H17 DPU increased 2.9% to 3.714 cents.

The improvement was driven by higher rents at Festival Walk (FW), lower accrued revenue for Gateway Plaza (GP) owing to uncertainty in VAT rate applicable in previous quarter and stronger HKD against SGD, causing gross revenue in 1H17 to increase 5.4% to $177 million.