Suntec REIT has continued to achieve strong financial performance in 1Q2022, with 18.2% y-o-y increase in distributable income. Distribution per unit (DPU) of 2.391 cents in 1Q2022 grew 16.9% y-o-y driven by 8.3% y-o-y increase in distributable income from operations and a capital distribution of $5.8 million. The strong operating performance was mainly driven by new contributions from The Minster Building in London, and higher income from Suntec City Office and Suntec City Mall.
1. Can you share more about Suntec REIT’s recent financial performance?
Listed in 2004, Suntec REIT holds properties in Suntec City, Singapore’s largest integrated commercial development, Australia and the UK. Its aim is to invest in income-producing real estate which is primarily used for office and/or retail purposes. Suntec REIT is managed by an external manager, ARA Trust Management (Suntec). As of March 31, its portfolio consists of 10 properties — three located in Singapore, five in Australia and two in the UK — with a total asset under management (AUM) of $12.2 billion.
