Net property income of IREIT Global rises 2.3% YoY to €49.9m in FY23

Despite the increase in NPI, the REIT declared a lower distribution per unit.

SGX-listed IREIT Global saw a 2.3% YoY increase in its net property income (NPI) to reach €49.9m ($72.5m).

In the same period, the Europe-focused REIT recorded a 5.4% YoY higher gross revenue of €65.0m ($94.5m).

Despite higher revenue and NPI, the REIT recorded a 19.2% YoY lower distributable income of €25.2m ($36.6m).

It also declared a 30.5% YoY lower distribution per unit of €0.0187 ($0.027).

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