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This comes as distributable income rose 2.3 percent to $19.2 million in Q2 2019 from $18.8 million in 28 March to 30 June 2018.
Sasseur Real Estate Investment Trust (Sasseur REIT) saw its distribution per unit increase 1.3 percent to 1.608 Singapore cents in the second quarter of 2019, from 1.587 Singapore cents in 28 March to 30 June 2018.
This comes as distributable income rose 2.3 percent to $19.2 million in Q2 2019 from $18.8 million in 28 March to 30 June 2018.
Entrusted management agreements (EMA) rental income fell 7.4 percent to $29.9 million from $32.3 million last year.
The REIT’s four outlet malls in China generated sales of RMB1.03 billion in Q2 2019, up 15.4 percent from RMB136.7 million in Q2 2018.
Its manager noted that portfolio occupancy rate during the period under review remained stable at 95.8 percent.
“Although the second quarter is seasonally a period with lower customer traffic for the retail industry, our DPU continues to outperform projections which bodes well for Sasseur’s overall performance this year,” said Anthony Ang, CEO of the manager.
“Despite the on-going trade tension between US and China, our outlet sales in China has not been impacted by external trade factors as it is largely fuelled by domestic consumption. For the third quarter, we are cautiously optimistic that sales and footfall will pick up again in view of Sasseur’s major overnight annual promotion events that will be held in September.”
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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