Suntec REIT’s 2Q18 In Line; Southgate Complex and Suntec Convention Drive Near-Term Growth
Suntec Real Estate Investment Trust’s second-quarter 2018 results were largely in line with expectations. Net property income increased by 2.2% year over year to SGD 60.7 million on the back of a 3.7% year-over-year increase on revenue to SGD 90.5 million. Distribution per unit decreased by 0.8% year over year to SGD 0.02474. The higher revenue and net property income stemmed from improvements at 177 Pacific Highway and its retail and convention business at Suntec City, partly offset by the nega...Suntec Real Estate Investment Trust is a Singapore-domiciled unit trust that invests in income producing real estate and real estate related assets, which are used for commercial purposes. Co. is managed by an external manager, ARA Trust Management (Suntec) Limited. Co.'s subsidiaries include Comina Investment Limited and Suntec Harmony Pte. Ltd.
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