OUE REIT's Net Property Income Down 4% in Q3

MT Newswires

2024/10/28

OUE REIT's (SGX:TS0U) net property income was down nearly 4% year over year to SG$60.3 million in the third quarter of the year from SG$62.7 million, according to a filing with the Singapore Exchange on Friday.

Revenue was down 1.3% year over year to SG$74.8 million from SG$76.0 million mainly due to lower contribution from the hospitality segment.

The REIT's Singapore office properties achieved an occupancy of 95.4%, while the occupancy of the Mandarin Gallery stood at 95.3% as rental reversion was up 16%, according to the filing.

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