ARA Trust Management, the manager of Suntec Real Estate Investment Trust, has announced a distribution per unit (DPU) of 2.361 cents for the period 1 April to 30 June 2012 (2Q FY12), resulting in a DPU of 4.814 cents for the half year ended 30 June 2012 (1H FY12).
Yeo See Kiat, Chief Executive Officer of the Manager, said, “Notwithstanding the divestment of CHIJMES in January 2012 and the commencement of the asset enhancement initiatives at Suntec City in June, Suntec REIT achieved a DPU of 2.361 cents for 2Q FY12. With this, the DPU for the half year ended 30 June was 4.814 cents, a marginal decline of 2.2% year-on-year. We are also pleased to report that Suntec City Office Towers achieved 100% committed occupancy as at 30 June 2012.”
On the retail portfolio, the committed occupancy of Suntec City Mall remained stable at 98.1%, whilst Park Mall continued to enjoy 100.0% occupancy. The overall committed occupancy for the retail portfolio stood at 98.5% as at 30 June 2012.
For the jointly controlled entities, ARA Trust Management said One Raffles Quay continued to enjoy full occupancy, whilst the committed occupancy for the MBFC Properties strengthened further to 99.5% as at 30 June 2012. Suntec REIT’s overall committed occupancy for the office portfolio recorded a high of 99.9% as at 30 June 2012.
Commenting on Suntec REIT’s office performance, Yeo said, “With Suntec REIT’s high committed occupancy of 99.9%, coupled with a balance of only 2.2% of its office leases due to expire in 2012, we are positive on the performance of our office portfolio for the current financial year.”
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