- Paragon REIT (SGX:SK6U) reported 1H24 gross revenue of S$147.4mil (+3.0% y-o-y) and NPI of S$110.8mil (+4.5% y-o-y). While DPU for the period retreated 4.1% y-o-y to 2.32 cents on the back of a change in management fee structure to full cash, it is still tracking ahead of our full year estimates of 4.29 cents.
Full occupancy among Singapore assets
- - Read this at SGinvestors.io -
- Amongst them, Paragon has benefited from demand within the medical and aesthetics space as Mount Elizabeth Hospital next door undergoes renovation works.
Australia reversions for the quarter came in at a softer -4.9%.
- - Read this at SGinvestors.io -
- Australia tenant sales remained stable with a 1.1% y-o-y increase, in line with industry retail sales as tax cuts were delivered by the Australian government to ease inflationary pressures.
Valuations & capital management remain stable.
- Read more at SGinvestors.io.
