The growth was mainly y due to the lower rental reliefs of S$4.7 million granted to retail tenants at Festival Walk during the period and the contribution from the Hewlett-Packard Japan Headquarters Building acquired on June 18, 2021.
In its 9MFY2022 ended December 2021 business update, Mapletree North Asia Commercial Trust (MNACT) announced that its net property income (NPI) has increased by 14.9% y-o-y to $247.4 million from $215.4 million.
This is on the back of a 12.8% increase in gross revenue to $328.0 million from $290.8 million.
