As a result, Net Property Income (NPI) in FY2025 rose by 25.6% y-o-y to $328.7 million. The total amount available for distribution to Unitholders rose 7.3% to $176.1 million in FY2025. The increase was driven by an 11.6% increase in core distributable income to S$172.3 million, supported by higher NPI, and partially offset by higher borrowing costs and perpetual securities costs incurred mainly to fund the acquisitions, non-controlling interests attributable to the 49% holders of 20 Tuas South Avenue 14, and higher tax expenses.
ESR-REIT reported a 3.4% y-o-y rise total distribution per unit (DPU) of 21.914 cents for the 12 months to Dec 31, 2025, its FY2025. Core DPU increased by 7.6% to 21.440 cents, and accounted for approximately 98% of total DPU, underpinned by higher core earnings and improved asset performance.
Gross revenue rose by 20.4% y-o-y to $446.0 million supported by ESR Yatomi Kisosaki Distribution Centre and 20 Tuas South Avenue 14 (acquired on November 15 2024 and November 29 2024, respectively) and positive rental reversions from lease renewals. This was further supported by income contributions from 7002 Ang Mo Kio Avenue 5, 21B Senoko Loop and 16 Tai Seng Street, which completed their Asset Enhancement Initiatives (AEIs) in 3Q2023, 1Q2024 and 3Q2025, respectively.
