EC World REIT’s distribution per unit drops 32.8% YoY in 3Q23

The REIT also reported lower net property income and gross revenue during the period.

EC World REIT saw a 32.8% YoY drop in its distribution per unit (DPU) in 3Q23.

Based on its latest financial statement, the REIT’s DPU for the period was 0.916 Singapore cents.

The REIT attributed its lower DPU to a decline in its distributable income, which was weighed down by the weakening of RMB against SGD.

During the same period, the REIT also reported lower net property income of $24.75m (-8.5% YoY) and gross revenue of $27.0m (-9.5% YoY).

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