“Meanwhile, the asset enhancement initiative (AEI) at Crowne Plaza Changi Airport is progressing well and the hotel is well-positioned to capture the anticipated influx of leisure and business travellers in 2024 and beyond,” he adds.
OUE Commercial REIT (OUE C-REIT) has reported a 29.8% y-o-y growth in net property income (NPI) to $62.7 million in its 3QFY2023 ended September following overall portfolio improvement.
CEO of the manager Han Khim Siew says the hospitality segment continued to be the REIT’s growth driver for the quarter, while the Singapore-focused commercial segment remains stable with positive rental reversions recorded.
