Soilbuild REIT delivers solid DPU in 2Q

It's looking forward to a sunny 2H14.

Soilbuild Business Space REIT (Soilbuild REIT) reported 2Q14 DPU of 1.50 S cents, ahead of its prospectus forecasts by 1.3%.

According to OCBC, its management remains confident in delivering its forecast distribution for FY14, notwithstanding the current challenges in the industrial market and upcoming supply in industrial space in the year ahead.

"To achieve this, Soilbuild REIT will continue to focus on early renewals or re-leasing of space that expires in 2H14. We understand that over 85% of all lease expiries due in 2014 has already been renewed, re-leased or pre-committed, which should provide a high degree of certainty to its income stream," stated OCBC.

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