Net property income (NPI) for the quarter was $24.9 million, down 15% from a year ago due to lower income contribution from Alexandra Technopark, China Square Central, Central Park and 55 Market Street on the back of lower occupancy rates.
SINGAPORE (Jan 23): The manager of Frasers Commercial Trust (FCOT) has declared a distribution per unit (DPU) of 2.4 cents for 1Q18, a 4.4% decline from 2.51 cents in the preceding year on lower revenue.
Gross revenue for the quarter fell 11% to $35.3 million from $39.7 million a year ago on lower income across all six properties in the trust’s portfolio, led mainly by lower contributions from China Square Central, Alexandra Technopark and Central Park.
