Suntec Real Estate Investment Trust (Suntec REIT) has announced a distributable income of $52.9 million for the period 1 January to 31 March 2011 (1Q FY11), an increase of 16.5% compared to the quarter ended 31 March 2010 (1Q FY10).
The distribution per unit for the quarter amounted to 2.388 cents, 5.0% lower year-on-year. This translates to an annualised distribution yield of 6.4%.
Gross office revenue contribution for the quarter was $28.9 million from Suntec City Office Towers and Park Mall office. Gross retail revenue contribution for the quarter was $32.1 million from Suntec City Mall, Park Mall and Chijmes. For 1Q FY11, the revenue contribution from Suntec REIT’s office and retail portfolio amounted to 47% and 53% of total revenue respectively.
The committed occupancy of Suntec City office as at 31 March 2011 improved further to 99.5%, whilst Park Mall office achieved full occupancy.
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