Property operating expenses dropped 11.3% to $2.46 million, compared to $2.77 million last year, mainly due to lower property tax expenses incurred for Eightrium, West Park BizCentral and Tuas Connection.
SINGAPORE (Apr 16): SB REIT Management announced that Soilbuild Business Space REIT’s DPU for 1Q18 has dropped 11.1% to 1.324 cents compared to 1.489 cents in 1Q17.
Gross revenue for the quarter dropped 11.5% to $19.4 million from $22.0 million a year ago. This was largely attributed to lower contribution from 72 Loyang Way, West Park BizCentral, Eightrium and KTL Offshorek, but partially offset by higher contribution from Solaris.
