Sunlight REIT portfolio records 92.7% occupancy rate

The figure is as of 31 March this year.

The occupancy rate of Sunlight REIT’s portfolio was at 92.7% in Q3 of FY2020/21, which ended 31 March, as compared to the 91.5% occupancy rate recorded during the previous quarter, according to an announcement.

Office occupancy rate increased to 91.2% during the period, whilst retail occupancy rate also improved mildly to 96% principally led by new letting activities at Metro City Phase I property.

The overall passing rent of Sunlight REIT’s portfolio was at $48.1 per square feet (sq. ft.) during the period, down from $48.7 per sq. ft. during the previous quarter. Office and retail portfolios also registered negative rental reversions of 4.1% and 14.9%, respectively.

Sunlight REIT said this reflects the “still difficult business environment due to COVID-19.”