ESR-REIT gross revenue increases 5% for FY21


Staff reporter

, Singapore

The amount available for distribution also increased 15.4% year-on-year to $114.4 million.

ESR Funds Management, manager of ESR-REIT, announced that the amount available for distribution for the year ended December 31, 2021 increased 15.4% year-over-year (YoY) to $114.4 million. There was also a 6.7% year-over-year increase to 2.987 cents for the distribution per unit.

Gross revenue for fiscal 2021 increased 5% to $241.3 million and NPI for fiscal 2021 increased 5.5% to $173.3 million, respectively, on a annual. The increase is mainly due to the contribution of 46A Tanjong Penjuru which was acquired on June 29, 2021, the rental of certain properties, as well as the absence of provision for COVID-19 rental discounts during the year.

The amount available for distribution for fiscal 2021 increased 15.4% year-over-year to $114.4 million, driven by a higher NPI, lower borrowing costs and contribution from ESR-REIT’s 10% stake in ESR Australia Logistics Partnership, resulting in a 6.7% increase in DPU for FY2021, compared to FY2020. DPU for the fourth quarter of 2021 rose 1.3% quarter-on-quarter from 0.712 cents to 0.721 cents. Rent collection for fiscal year 2021 remains healthy at 99.5% of total receivables.

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