Basic Profile & Key Statistics
Suntec REIT invests in Office, Retail and Convention Centre properties and owns 10 properties across Singapore, Australia and England.
Performance Highlight
Gross revenue and NPI increase due to contribution from Oldersleet, 21 Harris Street, stronger AUD, and higher revenue from Suntec City. Income from JV increases due to contribution from Nova properties, one-off compensation from ORQ & MBFC, higher contribution from Southgate and strong AUD.
Excluding the retained distribution, the distribution income and DPU increased by 27.4% and 26.1% respectively.
1H 21 rental reversion is +1% for Suntec City Office and -15.3% for Suntec City Retail.
Tenant Sales and footfall (compared to 2019) drop in May and June due to dining restriction during phase 2 and phase 3 heightened alerts. Tenant sales (whole mall) in 1H decrease by 20% despite -42% drop in footfall.
On 16 Jun 21, Suntec announced for divestment of 9 Penang Road with a gain of S$ 66.5 million....