OUE REIT wrote a post · Oct 24 20:37

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.

Resilient Operating Metrics:

Singapore office portfolio recorded positive rental reversion of 10.8% while committed occupancy remained high at 95.4% in 3Q 2024

Hospitality segment’s revenue per available room (“RevPAR”) increased by 0.3% YoY to S$296.

Mandarin Gallery average passing rent increased by 3.5% QoQ to S$21.84 psf per month

Proactive Capital Management:

Aggregate leverage remained stable at 39.3% as of 30 September 2024

Well-spread debt maturity with only 6.7% total debt due in 2025

Completed first 7-year investment grade green notes issuances at 3.90% — our lowest coupon rate and longest tenor ever for our bond

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OUE REIT Delivers Stable Operational Performance in 3Q 2024

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OUE REIT

The official account of OUE Com Reit

OUE REIT is a SGX-listed REIT with over 92% of its assets (hotels, retail and offices) located in Singapore.

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