Meanwhile, committed occupancy of its commercial portfolio was down 2.9 percentage points y-o-y to 92.3% in 3Q2020.
OCBC Investment Research’s Chu Peng has given a “buy” rating and a fair value price of 39 cents for OUE Commercial REIT (OUECT), after its merger with OUE Hospitality Trust.
OUECT’s 3Q2020 revenue and net property income NPI rose 12% and 11.4% y-o-y to $70.9 million and $55.8 million respectively, primarily driven by its merger with OUE Hospitality Trust (OUEHT), but partially offset by rental rebates of $5 million to retail tenants.
