SPH REIT has provided their key business and operational updates for 3QFY2022 on 7th July 2022. The good news is that the high vaccination rates and easing of safe distancing measures has stabilized its portfolio performance. The manager of SPH REIT shared that the overall financial performance of SPH REIT has improved. Year to date, Gross Revenue increase 0.9% y-o-y (year-on-year) to S$211.6 million. 3QFY2022 DPU (Distribution Per Unit) of 1.45 cents represents a 5.1% y-o-y increase from 3Q FY2021. Annualised distribution yield is 5.81%. Occupancy Overall portfolio occupancy stood healthily at 97.6% with a Weighted Average Lease Expiry (WALE) at 5.4 years. As of 31st May 2022, the occupancy for each asset is as follows:

• Paragon (98.6%)
• The Clementi Mall (99.2%)
• The Rail Mall (100.0%)
• Figtree Grove Shopping Centre (98.5%)
• Westfield Marion Shopping Centre (97.0%)

If you compare to 1QFY2022, occupancy was actually lower....