SINGAPORE (Nov 7): The manager of BHG Retail REIT has announced a Distribution per Unit (DPU) of 1.41 cents for 3Q17, 9.3% higher from a year ago.
Gross revenue rose 7.0% to $16.5 million while net property income rose 10.5% to $10.5 million. The growth in topline and net property income were attributed to underlying rental uplifts achieved for new and renewed leases, as well as in-built rental escalation for ongoing tenancies.
Amount available for distribution was $5.1 million for the 3Q17, up 13.9% from a year ago.
BHG Retail REIT’s gearing remained at 32.5%. It has a staggered debt maturity profile with weighted average term to maturity of 1.3 years.
As at Sept 30, portfolio committed occupancy rate stood high at 99.0%.
BHG Retail Trust Management says consumption continues to emerge as a new engine of economic growth in China, with a 64.5%a contribution to total economic growth in the first three quarters of 2017. Retail sales rose 10.4%a year-on-year to date in 2017.
Units in BHG Retail REIT closed at 74 cents on Tuesday.
