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Lendlease Global Commercial REIT FY2025 DPU down 6.9% y-o-y; Jem office to be divested to Keppel's private funds

Nicole Lim
Nicole Lim • 4 min read
Lendlease Global Commercial REIT FY2025 DPU down 6.9% y-o-y; Jem office  to be divested to Keppel's private funds
The decline in full year revenue and NPI was mainly due to the upfront recognition of supplementary rent in relation to the lease restructuring of Sky Complex that was received in FY2024. Photo: Samuel Isaac Chua/The Edge Singapore
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Lendlease Global Commercial REIT (LREIT) has reported a distribution per unit (DPU) of 3.60 cents for the FY2025 ended June 30, down 6.9% y-o-y. For the 2HFY2025, DPU grew 1.8% y-o-y to 1.80 cents.

LREIT’s gross revenue for the full year similarly declined 6.5% y-o-y to $221 million, but grew 1.9% y-o-y to $101 million for the 2HFY2025.

Net property income (NPI) for FY2025 also fell 10% y-o-y to $165.3 million, but grew 2.7% y-o-y to $73.8 million for the 2HFY2025.

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