Suntec REIT’s DPU Increased 26.1% in H1 2021

July 22, 2021 – Suntec REIT reported distribution per unit (DPU) of 4.154 cents for the period from 1 January to 30 June 2021 which was 26.1% higher than the period ended 30 June 2020.

The increase in DPU was a result of higher distributable income of S$118.2 million, an increase of 14.6% year-on-year.

This strong performance was driven by the resilience of the office portfolio in Singapore, Australia and United Kingdom, underpinned by contributions from newly acquired assets and completed developments as well as lower rent assistance for retail tenants and stronger Australian dollar.

Mr. Chong Kee Hiong, Chief Executive Officer of the Manager, said, “On the retail front, while we saw steady recovery of mall traffic and tenant sales in Suntec City over January to April, Heightened Alert measures hampered recovery in May and June.”

“However, our efforts in strengthening the mall with strong brands and concepts have helped to cushion the impact on retail revenue with tenant sales being less affected than footfall.”

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