SINGAPORE: Singapore's K-REIT Asia said on Thursday, Apr 14 tha tits first quarter (1Q) distribution per unit (DPU) rose 35% from a year ago, helped by contributions from recently acquired properties.

The DPU for the three months ended Mar 31 was 1.79 Singapore cents, up from 1.33 cents in the year-earlier period.

K-REIT said its net property income for the quarter rose 7.6% to S$14.9 million (RM36 million), as contributions from recently acquired properties offset the loss of income from two divested Singapore office buildings.

At the end of 1Q, K-REIT had an asset size of about S$3.5 billion, comprising four commercial properties in Singapore and two in Australia.

K-REIT is managed by Keppel Land, Singapore's third largest developer. — Reuters

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