Revenue rose by 19.8% y-o-y to $138.8 million with the recovery in Singapore’s tourism sector and y-o-y growth in the REIT’s operational performance.
The manager of OUE Commercial REIT (OUE C-REIT) has reported a distribution per unit (DPU) of 1.05 cents, 2.8% lower than the DPU of 1.08 cents in the corresponding period the year before.
Despite a higher revenue and net property income (NPI), the REIT’s distributable income fell by 3.3% y-o-y to $57.6 million mainly due to higher finance costs from the high interest rate environment and the lack of income support for OUE Downtown Office.
