Oct, 23 2025 — OUE Real Estate Investment Trust reported revenue of 70.5 million Singapore dollars and net property income of 57.0 million Singapore dollars for the quarter ended Sep, 30 2025, representing year-on-year declines of 5.8 % and 5.6 %, respectively, due mainly to the December 2024 divestment of Lippo Plaza Shanghai. On a like-for-like basis that excludes the divested property, revenue grew 1.2 % while net property income rose 2.0 %.
The commercial portfolio generated 43.6 million Singapore dollars in revenue and 32.5 million Singapore dollars in net property income, up 4.2 % and 3.8 % year-on-year on a like-for-like basis, supported by positive rent reversions and a 95.3 % committed occupancy rate for its Singapore office assets.
Hospitality revenue slipped 3.4 % to 26.9 million Singapore dollars, and segment net property income edged down 0.4 % to 24.5 million Singapore dollars as the Formula 1 Singapore Grand Prix shifted to October this year. RevPAR for the hospitality portfolio decreased 5.7 % year-on-year to 279 Singapore dollars.
Finance costs, excluding non-cash fair-value changes, fell 19.7 % year-on-year on the back of lower Singapore Overnight Rate Average levels and active refinancing. The weighted average cost of debt declined 10 basis points to 4.1 %, with 66.7 % of total debt hedged and an aggregate leverage ratio of 40.9 %.
On Oct, 8 2025 the trust issued 150 million Singapore dollars of seven-year green notes at a 2.75 % coupon, extending the average debt maturity from 2.9 years to a pro-forma 3.3 years and reducing 2026 refinancing requirements to 16.0 % of total debt.
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