EC World REIT Q3 gross revenue falls to S$10.8 million
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EC World Real Estate Investment Trust reported a significant decline in Q3 gross revenue to S$10.8 million, down from S$24.5 million year-on-year. Net property income also fell to S$9.0 million from S$22.2 million. The decrease was attributed to the termination of master lease agreements, although new third-party leases at Hengde Logistics Phase I provided some offset. The calculated distribution to unitholders for the quarter was S$0.4 million. The trust's portfolio includes seven properties in China with a total net lettable area of 927,157 square meters.
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