Its Singapore office segment recorded a positive rental reversion of 18.4% during the 3QFY2023 while its hospitality segment revenue rose by 67.6% y-o-y and 73.2% y-o-y to $28.3 million and $27.0 million respectively.
DBS Group Research has upgraded OUE (SGX:LJ3
) Commercial REIT (SGX:TS0U) (OUE C-REIT) to “buy” with a target price of 35 cents after the REIT reported a strong sequential performance for the 3QFY2023 ended Sept 30.
On Oct 30, the REIT reported 3QFY2023 revenue of $75.8 million, 27.5% higher y-o-y. Net property income (NPI) for the quarter rose by 29.8% y-o-y to $62.7 million.
