SINGAPORE — CapitaMall Trust said yesterday that first-quarter distribution per unit (DPU) rose 7 per cent from the corresponding period a year earlier, as the real estate investment trust benefited from higher revenues from malls where upgrading work was completed.
Unit holders will receive 2.46 Singapore cents for the three months ended March 31, up from 2.30 cents a year earlier.
Gross revenue rose 14.8 per cent to S$178.2 million, boosted by the reopening of JCube mall and the completion of upgrading work at Bugis+ and Atrium@Orchard malls, said the trust, which is sponsored by Singapore’s largest-listed property developer, CapitaLand. Net property income rose 15.5 per cent to S$125.1 million from S$108.3 million.
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