Income available for distribution for FY2024 and 2HFY2024 was $84.7 million and $42.8 million respectively, a decrease of 4.8% and 5.7% y-o-y respectively. SG REIT's manager will retain about $0.9 million of income available for distribution for working capital requirements.
Starhill Global REIT's distribution per Unit (DPU) to unitholder for 2HFY23/24 for the six months to June 30 was 1.85 cents. On an annual basis, DPU for FY2024 decreased 4.5% y-o-y to 3.63 cents.
Gross revenue for FY2024 rose by 1.1% y-o-y to $189.8 million, and net property income (NPI) rose 0.8% y-o-y to $149.0 million. Higher contributions from the Singapore Properties and Myer Centre Adelaide (Retail), were partially offset by loss of income from the Japan divestment, as well as net movement in foreign currencies. Gross revenue for 2HFY2-24 rose by 2.3% y-o-y to $95.2 million. while NPI for 2HFY2024 was at $74.5 million, 1.3% higher y-o-y. The y-o-y NPI increase in the second half mainly attributed to the Singapore Properties, partially offset by net movement in foreign currencies.
