OUE REIT Delivers Stable Operational Performance in 3Q 2024
OUE REIT is pleased to announce stable operational performance for the financial period of 1 July 2024 to 30 September 2024 (“3Q 2024”). Revenue and net property income (“NPI”) reached S$74.8 million and S$60.3 million, respectively.
[胜利]Resilient Operating Metrics:
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Singapore office portfolio recorded positive rental reversion of 10.8% while committed occupancy remained high at 95.4% in 3Q 2024
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Hospitality segment’s revenue per available room (“RevPAR”) increased by 0.3% YoY to S$296.
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Mandarin Gallery average passing rent increased by 3.5% QoQ to S$21.84 psf per month
[胜利]Proactive Capital Management:
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Aggregate leverage remained stable at 39.3% as of 30 September 2024
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Well-spread debt maturity with only 6.7% total debt due in 2025
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Completed first 7-year investment grade green notes issuances at 3.90% — our lowest coupon rate and longest tenor ever for our bond
Press Release: https://investor.ouereit.com/newsroom/20241023_183813_TS0U_FGK1UV49UGBOIH1R.1.pdf
Presentation: https://investor.ouereit.com/newsroom/20241023_183813_TS0U_FGK1UV49UGBOIH1R.2.pdf
#ouereit #hotel #office #retail #sreit #singapore #businessupdate
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