Suntec REIT has reported a DPU of 1.778 cents for the 3QFY2025, up 12.5% y-o-y

Suntec REIT has reported a distribution per unit (DPU) of 1.778 cents for the 3QFY2025 ended Sept 30, up 12.5% y-o-y.

The REIT’s distributable income for 3QFY2025 rose 13.4% y-o-y to $52.4 million.

This was driven by stronger operational performance of the REIT’s Singapore portfolio, lower financing costs and the reversal of withholding tax provision for the Australia portfolio.

The REIT is expecting moderate rent growth in its office portfolio to be underpinned by limited new supply and tight vacancies.

In its Suntec City Mall, traffic and sales is expected to improve in 4QFY2025 from festive holidays and efforts to drive strategic partnerships.

The REIT’s Suntec Convention is expected to be stable with new events in Singapore and government support for the MICE industry.

See also: OUE REIT’s net property income declines 5.8% y-o-y for 3QFY2025 to $57 mil after Lippo Plaza Shanghai divestment

Meanwhile, the outlook for its overseas portfolio are as follows. Australia’s portfolio revenue is expected to be stable, supported by healthy occupancies of the properties in Sydney and Melbourne, while operating performance for the UK Nova Properties is expected to be stable while The Minister Building remains impacted by vacancies.

Units in Suntec REIT closed $1.36 on Oct 23.