However, on a same-store basis, gross revenue grew by 1.4% y-o-y to $109.9 million due to positive rental reversion and higher rental rates from new leases. NPI, on the same basis, was down marginally 0.1% y-o-y to $80.6 million due to higher utilities and property tax.
ESR-REIT (SGX:9A4U
) has reported distributable income of $44.8 million, 1.4% higher y-o-y in 1QFY2026, ended March 31. The figure is partially offset by absence of $1.9 million in other gains distributable income recorded in 1QFY2025.
Gross revenue and net property income (NPI) declined by 0.4% and 2.3% y-o-y to $110.1 million and $80.6 million respectively, mainly due to divestment of 79 Tuas South Street 5, 1 Third Lok Yang Road, 4 Fourth Lok Yang Road and the hotel at Changi Business Park.
