EC WORLD REIT Reports Resilient Operating Performance, Completes Acquisition of Fuzhou E-Commerce
EC World Asset Management Pte. Ltd., as manager ofEC World Real Estate Investment Trust (“ECW”) (the “Manager”) wishes to report a set of resilient operating performances amidst challenging macroeconomic climate. Portfolio occupancy remains strong at 99.2% while gross revenue and net property income both registered healthy gains.
As a result of technical timing difference between the loan drawdown and completion of acquisition of Fuzhou E-Commerce and depreciation in RMB, DPU declined by 5.2%.