Starhill Global REIT DPU up by 1.1% in H1 2024

It was due to higher contributions from Singapore and Perth Properties.

Starhill Global REIT reported a 1.1% year-on-year (YoY) increase in its distribution per unit (DPU) to $0.018 for the first half of the financial year 2024 (H1 2024).

The increase was linked to higher contributions from Singapore and Perth Properties and the appreciation of the Malaysian ringgit against the Singapore dollar.

Income available for distribution during the period was $43.3m, an increase of 3.3% YoY whilst net property income grew by 1.6% YoY to $75.6m.

Revenue for the period also rose 1.7% YoY to $96.3m, occupancy rate remained stable at 97.7%.

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