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Its logistics assets in the UK led has the most contributions.
Ascendas REIT saw its net property income (NPI) rose 8.5% YoY to $182.3m in Q3 2019 from $168m in 2018, an announcement revealed. However, its distribution per unit (DPU) fell 12.3% to 3.51 cents from 4 cents over the same period.
Total amount available for distribution edged up 2.1% YoY in Q3 to $126.9m from $124.3m, whilst its gross revenue also grew 5.1% YoY to $239.7m from $226.4m in Q3 2018.
For its 9M period, NPI edged up 10.6% YoY to $537.7m from $486.1m in 9M 2018, whilst its DPU dipped 3.3% YoY to 11.49 cents. The NPI growth was attributed to contributions from the 38 logistics properties in the UK, 28 properties in the US and two properties in Singapore.
Daily Property News from Singapore
- Ascendas Reit Q3 DPU down 12.3% on enlarged base following rights issue
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- Real estate investment beyond 2020: Going beyond location and yield
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