The higher gross revenue and NPI were attributable to the cessation of rental rebates after the completion of the REIT’s asset enhancement works in December 2021. This was partly offset by the depreciation of the Australian dollar (AUD) and Malaysian ringgit, as well as lower contribution from Wisma Atria (retail).
Starhill Global REIT has reported gross revenue of $47.6 million, 6.2% higher y-o-y for the 1QFY2022/2023 ended Sept 30.
Net property income (NPI) for the quarter stood 8.4% higher y-o-y at $37.2 million.
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