The lower revenue and NPI were due to the deconsolidation of OUE Bayfront’s performance post the divestment of a 50% interest in the property on March 31, 2021.
OUE Commercial REIT (OUE C-REIT) has reported a 15.8% y-o-y drop in distributable income of $31.2 million for the 1QFY2022 ended March.
During the quarter, revenue fell 20.3% y-o-y to $59.5 million, while net property income (NPI) fell 21.5% y-o-y to $48.0 million.
