Gross revenue has improved yoy mainly due to higher contributions from New Tech Park, 30 & 32 Tuas Avenue 8, 508 Chai Chee Lane, 23 Serangoon North Avenue 5 and 10 Changi South Street 2. Despite that, NPI remains the same due to significantly higher property expenses (43.7% increase) arising from the surge in utility expenses. The amount available for distribution and DPU declined due to higher interest expenses.
Rental reversion for 2H is at 16.2%. For FY22, the rental reversion is at 12.9%.The AEIS of 2TTL and 10CSS2 have completed. There are also multiple ongoing AEI for New Tech Park, 508CCL and 39UR1.
For the AEI of 1 Tuas Avenue 4, the appointment of the main contractor is targeted to be in 1Q 2023. And the target completion