SPH REIT Archives - Inside Retail Singapore
Lower revenue from Paragon caused a modest decline in the net property income of SPH REIT in the November quarter.
Real estate investment trust SPH Reit has taken a fall in net property income of 1.2 per cent.
Lower revenue at Paragon mall hit net property income for SPH Reit Management for its second quarter to the end of February.
Higher rental income has helped boost first-quarter turnover at SPH Reit, which owns two malls in Singapore.
Paragon parent SPH Reit says both its Singapore mall properties have continued their track record of full occupancy.
Higher rental income from both Paragon and The Clementi Mall (TCM) have helped boost SPH REIT’s net income to S$42.7 million.
A 2.5 per cent dip in shopper traffic at Paragon mall need not worry investors, advises DBS Vickers Securities.
Arguably already Orchard Rd’s most luxurious shopping mall, Paragon Orchard Rd is undergoing an enhancement program to boost its premium positioning.