K-Reit – BT

K-Reit Asia reported on Monday a distributable income of $14.2 million for Q2 2008.

Net property income for the quarter was $9.2 million, an increase of 26 per cent compared to a net property income of $7.8 million a year ago.

This is 173 per cent higher than the distributable income of $5.2 million a year ago.

Distribution Per Unit (DPU) for the period is 2.18 cents, up from 2.14 cents a year.

K-Reit said its portfolio attained 100 per cent committed occupancy as at end-June. Average gross rental rates for investment properties held directly rose to $5.66 psf in June as compared with $4.28 psf for the same period in 2007.