Lower property expenses boosted returns at Frasers Centrepoint Trust (FCT) and delivered a better DPU for its first quarter. On Thursday, FCT said 4.4 per cent to 2.87 cents, up from 2.75 cents a year earlier. Net property income for the first quarter climbed 2 per cent to S$33.5 million, thanks to a decline in property expenses due to lower utility tariff rates and fewer maintenance and repair works. On the industrial property front, Soilbuild Business Space Reit said on Thursday its DPU for the fourth quarter rose 1.8 per cent to 1.614 Singapore cents, buoyed by higher income. Its DPU in the year-ago quarter stood at 1.585 Singapore cents. Net property income rose 17.1 per cent to S$17.5 million for the three months ended Dec 31, 2015, on the back of higher rental revenue, and as the gain in operating expenses was slower than that of revenue.