MND is LREIT’s top tenant by gross rental income (GRI), contributing 11.2% to the REIT’s portfolio as at June 30, 2024.
The manager of Lendlease Global Commercial REIT (SGX:JYEU
) (LREIT) has secured a 13% increase over its current rent rate for its Jem office. The new rate will take place for five years effective from Dec 3, 2024, onwards.
The Jem office is fully leased to Singapore’s Ministry of National Development (MND) till 2044 with a rental review taking place once every five years.
