Meanwhile, gross revenue in the FY2024 inched up marginally by 0.2% y-o-y to $462.7 million off the back of stronger operating performance at Suntec City Office and Suntec City Mall.
Suntec REIT has reported a distribution per unit (DPU) of 6.192 cents for the FY2024 ended Dec 31, 2024, 2.3% lower y-o-y. With the absence of capital distribution in FY2024, DPU declined 13.2% y-o-y.
Distributable income for the year fell by 12.5% y-o-y to $180.9 million due to higher financing costs and lower contributions arising from vacancies at the REIT’s assets at 55 Currie Street, Adelaide and The Minster Building, London.
