UI Boustead REIT reported net property income of 29.2 million Singapore dollars for the period from Mar, 12 2026 to Jun, 30 2026, 4.3% below its initial public offering forecast, citing a weaker Japanese yen and delayed lease commencement at UIB Konan Phase 2. Share of results from joint ventures reached 3.3 million Singapore dollars, 30.3% above forecast, helped by stronger contributions from Razer SEA HQ and 6 Tampines Industrial Avenue 5.

The trust achieved a stabilised committed portfolio occupancy of 98.1% as of Jun, 30 2026, up from 89.4% at Sep, 30 2025. Occupancy in Japan rose to 100% from 76.7% after full lease-ups at UIB Konan Phase 2 and Toyo MK Fuso Building, while Singapore assets reached 97.0% occupancy. Portfolio weighted average lease expiry stood at 5.4 years.

Since listing on Mar, 12 2026, the manager committed about 74.7 million Singapore dollars to two co-development projects—UIB Konan Phase 3 in Japan and a built-to-suit aerospace facility at Seletar Aerospace Park in Singapore—and began a 2.6 million Singapore dollars asset enhancement at 84 Boon Keng Road to convert it into a multi-tenant building.

Aggregate leverage was 36.4% as at Jun, 30 2026, with a 2.5% all-in cost of debt and a weighted average debt maturity of 3.9 years; 67% of borrowings are fixed-rate. Assuming full debt funding of committed development costs, leverage is projected to rise to about 38.6%.

The manager said around 11.2% of gross rental income is up for renewal in the remainder of FY2027, with 78% under advanced negotiations, and reiterated its aim to meet IPO forecasts despite macroeconomic uncertainties linked to the Middle East conflict.