[SINGAPORE] Mapletree Industrial Trust’s distribution per unit (DPU) fell 4.7 per cent to 3.27 Singapore cents for its first quarter ended Jun 30, 2025, from 3.43 cents the year before.
Nevertheless, gross revenue was up 0.3 per cent to S$175.9 million for the quarter, from S$175.3 million in the year-earlier period.
This was due to revenue contributions from the freehold mixed-use facility in Tokyo acquired in October 2024; the completion of the final phase of fitting-out works of its Osaka Data Centre, as well as new leases and renewals across various Singapore property clusters, its manager said on Monday (Jul 28).
Net property income (NPI) grew 0.8 per cent on the year to S$133.6 million for the quarter, from S$132.5 million.
But distribution to unitholders fell 4.1 per cent on year to S$93.3 million, largely due to the lower cash distribution declared by its joint venture, Mapletree Rosewood Data Centre Trust, due to higher borrowing costs from the repricing of matured interest rate swaps.
The distribution will be paid out on Sep 8, 2025, after books closure on Aug 5.
Ler Lily, chief executive of the manager, noted that the data centre sector continues to be a key pillar of its growth, amid surging demand driven by cloud computing, artificial intelligence and digital transformation.
“To this end, our expansion plan into Europe and Asia-Pacific will be a key area of growth as we rebalance our portfolio for resilience,” she said.
Units of MIT closed 0.5 per cent or S$0.01 higher at S$2.07 on Monday, before the results were posted.
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