Lendlease Global REIT's (SGX:JYEU) distribution per unit or DPU declined 14% for the fiscal first half ended Dec. 31, 2024, to SG$0.018 from SG$0.021 a year earlier, a filing with the Singapore Exchange said on Monday.
Net property income was down 20% year over year to SG$74.9 million from SG$93.4 million.
Gross revenue declined 14% year over year to SG$103.6 million from SG$119.9 million, mainly due to the absence of supplementary rent in relation to the lease restructure of Sky Complex.
Committed portfolio occupancy stood at 92.3% as at Dec. 31, 2024.
Shares of the REIT were down nearly 2% in recent trading.
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