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BHG Retail REIT FY 2021 Gross Revenue up 16.6%

BHG Retail REIT FY 2021 Gross Revenue up 16.6%

February 28, 2022 – BHG Retail REIT announced that its FY 2021 gross revenue and net property income (NPI) increased by 16.6% and 14.9% year-on-year, respectively, amidst progressive recovery.

FY 2021 amount to be distributed to unitholders grew 17.2% year-on-year to S$11.1 million. Full year distribution per unit (DPU) of 2.17 Singapore cents was 11.3% higher year-on-year.

For the second half year period ended 31 December 2021 (2H 2021), gross revenue and NPI of S$36.3 million and S$21.2 million were up 10.8% and 6.6% year-on-year, respectively. 2H 2021 amount to be distributed to unitholders of S$5.4 million translated to a DPU of 1.05 Singapore cents, which will be paid to respective Unitholders on the 31 March 2022.

Ms Chan Iz-Lynn, Chief Executive Officer of BHG Retail Trust Management Pte. Ltd., said, “we are pleased to report a set of commendable performance in FY 2021. BHG Retail REIT’s underlying portfolio demonstrated resilience, achieving robust occupancies and healthy retention rates. Notwithstanding this, the Manager will remain cautious about the risks of COVID-19 resurgence that may affect the pace of further market recovery.”

“We will continue to refresh our malls’ offerings, pursue further growth opportunities, and remain an attractive long-term yield-play investment to our unitholders.”

Read more here..

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