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Viva Industrial Trust (VIT) saw its gross revenue increase by 10.8 percent in the fourth quarter of 2017 to $28.3 million from $25.6 million over the same period in 2016.
The increase was supported by positive rental reversions at UE BizHub East and Viva Business Park, as well as by contributions from 6 Chin Bee Avenue.
Net property income rose 14.3 percent to S$20.7 million, while distribution per stapled security (DPS) climbed 5.5 percent to 1.857 Singapore cents.
For the full year-2017, gross revenue and net property income increased 17.4 percent and 19.5 percent to $111.7 million and $81.8 million, respectively. DPS grew 7.4 percent to 7.472 Singapore cents.
VIT’s overall portfolio rental reversion also rose 2.6 percent in 2017.
“In 2017, we have delivered strong returns to our unitholders with investors recognising good value in VIT,” said Wilson Ang, CEO of the trust’s manager.
“Challenges remain in the industrial REITs market, with active management, deep relationships and portfolio scale being the key differentiators amongst industrial S-REITs’ performance. We strive to continue pressing ahead to outperform expectations, with the view to further crystallising value for our unitholders,” he added.
This article was edited by Keshia Faculin.
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