Gross revenue for the 4QFY2020 increased 9.0% y-o-y to $30.6 million largely due to revenue contribution from the property acquisitions in Japan in December 2019 and December 2020, higher rent from its Singapore properties as well as the appreciation of the Japanese yen.
The manager of Parkway Life REIT (PLife REIT) has reported distribution per unit (DPU) of 3.57 cents for the 4QFY2020 ended December, representing a 6.7% growth over DPU of 3.34 cents in 4QFY2019. This was due to contribution from the newly-acquired properties and cost savings.
4QFY2020 distributable income to unitholders, likewise, rose 6.7% y-o-y to $21.6 million.
