Frasers Centrepoint Trust (FCT) has reported a 6% rise in distribution per unit to 3.022 cents in the 3Q ended June 2014, thanks to higher retail rentals and occupancies. The suburban mall operator enjoyed 7.8% of positive rental reversions in the 3Q and an improvement of its portfolio occupancy to 98.5%. Gross revenue for the quarter increased by 3.1% from a year before to S$41.2 million and Net Property Income (NPI) improved 2.4% to $29.1 million. FCT said that the growth in revenue
and NPI was supported by rental step up of current leases, better rental rates achieved for new and renewed leases and the maiden contribution from Changi City Point, which it acquired on 16 June 2014.
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