Income available for distribution for FY2024 and 2HFY2024 was $84.7 million and $42.8 million respectively, a decrease of 4.8% and 5.7% y-o-y respectively. SG REIT's manager will retain about $0.9 million of income available for distribution for working capital requirements.
The portfolio's committed occupancy remained stable at 97.7% as at June 30 with the Singapore Properties’ committed occupancy at 99.2%. At Wisma Atria Property (Retail), tenant sales and shopper traffic in FY2024 increased 2.8% and 8.2% y-o-y respectively, following the completion of basement interior upgrading works and active tenant remixing. The rise in shopper traffic could also be attributed to the influx of tourists due to a series of high-profile concerts, and the mutual 30-day visafree travel between China and Singapore.
The portfolio's committed occupancy remained stable at 97.7% as at June 30 with the Singapore Properties’ committed occupancy at 99.2%. At Wisma Atria Property (Retail), tenant sales and shopper traffic in FY23/24 increased 2.8% and 8.2% y-o-y respectively, following the completion of basement interior upgrading works and active tenant remixing. The rise in shopper traffic could also be attributed to the influx of tourists due to a series of high-profile concerts, and the mutual 30-day visafree travel between China and Singapore.
Net revaluation loss of $16.5 million in FY2024 mainly attributed to the Australia Properties (expansion of capitalisation rates and softening of rents) although Wisma Atria also experienced a 1.3% decline in valuation as at end-June. Additionally, a net foreign currency translation loss was due mainly to a weaker JPY and RM.
