AIMS APAC REIT posts 4.2% YoY higher net property income in 1Q24

It recorded an NPI of $32.3m.

AIMS APAC REIT’s distributable income to unitholders rose 5.1% YoY to $17.2m in 1Q24 due to higher gross revenue and net property income (NPI).

In its latest financial statement, the REIT reported that its NPI increased by 4.2% to $32.3m whilst its gross revenue improved by 4.5% YoY to $43.2m.

The REIT attributed the increase in its revenue and NPI to “higher rental income from Singapore properties, partially offset by higher financing costs.”

Given the higher distributable income, the REIT’s distribution per unit (DPU) also increased in 1Q24, rising by 1.3% YoY to $0.02310.

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