Suntec Real Estate Investment Trust (T82U) on Apr, 23 2026 released its business update for the quarter ended Mar, 31 2026, reporting a 24.8 per cent year-on-year rise in distributable income to unitholders to 57.3 million Singapore dollars.

The distribution per unit increased 23.9 per cent to 1.936 cents for the three-month period, driven mainly by stronger operating performance from the Singapore office and retail portfolios, lower financing costs and the absence of an Australia withholding-tax provision booked in the prior-year quarter. The distribution will be paid on May, 29 2026, with an ex-date of Apr, 30 2026.

Aggregate leverage stood at 41.6 per cent as at Mar, 31 2026, with total debt outstanding of 4.113 billion Singapore dollars and a weighted average debt maturity of 2.44 years. The trust’s net asset value per unit was unchanged at 2.03 Singapore dollars. All-in financing cost eased to 3.56 per cent per annum, and interest coverage improved to 2.2 times. Approximately 65 per cent of borrowings are fixed or hedged.

Portfolio occupancy remained high across key markets: Singapore office 98.8 per cent, Singapore retail 99.0 per cent, Australia 90.7 per cent and the United Kingdom 92.5 per cent. Positive rent reversions of 9.5 per cent for office and 14.3 per cent for retail were achieved in Singapore during the quarter.

By geography, income contribution came 71 per cent from Singapore, 27 per cent from Australia and 2 per cent from the United Kingdom. Sector-wise, offices accounted for 73 per cent of income, retail 16 per cent and convention 11 per cent.

The manager expects financing costs for 2026 to remain similar to 2025 and projects continued support for portfolio performance from resilient Singapore office and retail assets.