- Mapletree Pan Asia Commercial Trust (SGX:N2IU)’s 3QFY26 gross revenue and net property income (NPI) edged lower by 1.9% and 1.2% y-o-y to S$219.5m and S$164.9m respectively, as positive growth from its Singapore assets was offset by weaker contributions from overseas assets.
In-line set of 3QFY26 results.
- - Read this at SGinvestors.io -
- For 9MFY26, Mapletree Pan Asia Commercial Trust's DPU was flat y-o-y at 6.07 Singapore cents. This met our expectations as 9MFY26 DPU accounted for 74.5% of our FY26 forecast.
Portfolio occupancy fell sequentially but backfilling of vacancies in Singapore in progress.
- - Read this at SGinvestors.io -
- Encouragingly, VivoCity remained fully occupied, Festival Walk and The Pinnacle Gangnam maintained high occupancy rates of 98.4% and 99.9% respectively, while MBC’s occupancy rose 0.5ppt to 93.5%. However, this was offset by its “Other SG Properties” segment (-3.8ppt to 95.3%), China (-2.7ppt to 73.1%) and Japan (-0.8ppt to 73.1%).
- Backfilling of vacancies at its Singapore properties is well in progress, with ~90k sq ft of space at MBC nearly committed, while vacancies at M Tower (classified under Other SG Properties) are gradually being backfilled.
Rental reversions were flattish at 0.3%.
- Read more at SGinvestors.io.
