OUE REIT Delivers Stable Operational Performance in 3Q 2024

OUE REIT
2024-10-25

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:

  • 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

[胜利]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

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

$华联房地产投资信托(TS0U.SI)$

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