Mapletree Industrial Trust has declared a 7.3% rise in distribution per unit (DPU) of 2.79 cents for the 2Q ended September from 2.60 cents a year ago.
Gross revenue for 2Q rose 6.2% to $82.7 million while expenses remained stable. As a result, net property income and distributable income rose 8.6% to $61 million and $48.9 million respectively.
Tham Kuo Wei, CEO of the manager says the trust continues to deliver y-o-y growth driven by higher occupancies and stable rental rates as well as the contribution from the completed build-to-suit data centre at 26A Ayer Rajah Crescent.
Meanwhile, Mapletree Industrial Trust is embarking on its next asset enhancement initiative to optimise the use of available gross floor area (GFA) at the Kallang Basin 4 Cluster.
The $77 million AEI involves the development of a new 11-storey Hi-Tech building at the existing open car park space and improvement works at the existing buildings in the cluster. This will add about 317,000 sq ft of GFA. Subject to approvals from authorities, the AEI is slated for completion in the fourth quarter of 2017.
Meanwhile, MIT’s average portfolio occupancy rose to 93.8% from 93.5% in the preceding quarter. Average portfolio passing rent increased to $1.88 psf per month from $1.86 psf per month.
This was mainly due to new leases secured in the Hi-Tech buildings and business park buildings segments which raised the overall portfolio occupancy and passing rental rate.
Units of MIT closed 1.32% lower at $1.50.
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Gross revenue for 2Q rose 6.2% to $82.7 million while expenses remained stable. As a result, net property income and distributable income rose 8.6% to $61 million and $48.9 million respectively.
Tham Kuo Wei, CEO of the manager says the trust continues to deliver y-o-y growth driven by higher occupancies and stable rental rates as well as the contribution from the completed build-to-suit data centre at 26A Ayer Rajah Crescent.
Meanwhile, Mapletree Industrial Trust is embarking on its next asset enhancement initiative to optimise the use of available gross floor area (GFA) at the Kallang Basin 4 Cluster.
The $77 million AEI involves the development of a new 11-storey Hi-Tech building at the existing open car park space and improvement works at the existing buildings in the cluster. This will add about 317,000 sq ft of GFA. Subject to approvals from authorities, the AEI is slated for completion in the fourth quarter of 2017.
Meanwhile, MIT’s average portfolio occupancy rose to 93.8% from 93.5% in the preceding quarter. Average portfolio passing rent increased to $1.88 psf per month from $1.86 psf per month.
This was mainly due to new leases secured in the Hi-Tech buildings and business park buildings segments which raised the overall portfolio occupancy and passing rental rate.
Units of MIT closed 1.32% lower at $1.50.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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