pstrongNPI for the period was £8.3m./strong/p pElite Commercial REIT saw its net property income dip by 3.7% YoY to £8.3m in 1Q24 despite higher revenue./p pRevenue for the period was £9.2m, 0.8% YoY higher. The REIT attributed its higher revenue to rent escalations in April 2023.
Elite Commercial REIT saw its net property income dip by 3.7% YoY to £8.3m in 1Q24 despite higher revenue.
Revenue for the period was £9.2m, 0.8% YoY higher. The REIT attributed its higher revenue to rent escalations in April 2023.With lower NPI, the REIT also recorded a 21.2% YoY drop in its distribution per unit , falling to £0.0067 from £0.0085 in 1Q23. The REIT said increased vacancy holding costs and enlarged equity bases YoY affected their financial performance for 1Q24.
Looking at portfolio performance, the REIT’s occupancy and weighted average lease expiry stood at 92.3% and 4.0 years, respectively....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
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Singapore properties boost OUE Commercial REIT’s NPI by 6.9% YoYpstrongThese properties include Hilton Singapore Orchard./strong/p pThe net property income of OUE Commercial REIT rose 6.9% YoY to $60.5m in 1Q24, driven by enhanced contributions from Hilton Singapore Orchard and the robust performance of Singapore's commercial properties.
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Suntec REIT's distributable income dips 1.1% YoY in 1Q24pstrongWith lower income, the REIT also reported a 1.8% dip in DPU./strong/p pSuntec REIT posted a 1.1% YoY lower distributable income to unitholders of $44m in 1Q24./p pThe REIT also recorded a 1.8% YoY drop in its distribution per unit (DPU) from operations to $0.01511.
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Elite REIT expands into UK living sector assetspstrongThe REIT will also change its name in due course as part of its expansion.
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Yen depreciation hurts Parkway Life REIT's quarterly net property incomepstrongNPI for the period was down 2.8% YoY./strong/p pParkway Life REIT reported a 2.8% YoY lower net property income (NPI) of $34.3m in 1Q24./p pThe REIT also saw its gross revenue decline by 2.7% YoY to $36.3m./p pThe REIT attributed the decline in its NPI and gross revenue to the depreciation of the Japanese Yen.
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Investment volume drops 34.7% YoY to $4b in 1Q24pstrongGLS tenders played a significant role in the investment volume./strong/p pInvestment volume hit fell 34.7% YoY to $4.0b in 1Q24, Colliers reported./p pThe investment volume also fell across segments, with the commercial sector posting the largest decline of 52.7% QoQ.
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Lower private transport costs ease inflation to 2.7% YoY in MarchpstrongIn February, headline inflation was at 3.4 YoY./strong/p pThe rate of price increase slightly slowed to 2.7% YoY in March, data from the Department of Statistics (SingStat) showed./p pa href="https://sbr.com.sg/economy/in-focus/inflation-rises-34-yoy-in-february"In February, inflation was at 3.4%/a.
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