[胜利] OUE REIT is pleased to announce steady 1Q 2025 operating performance, enhanced by a significant decline in financing costs.
Mr Han Khim Siew, Chief Executive Officer of the Manager, said, “Our fully Singapore-based portfolio continues to demonstrate its defensive qualities and deliver income resilience amid ongoing macro upheavals, underpinned by quality tenants, high office occupancies, and strong operating performance. The attractive coupon rates achieved from the issuance of our inaugural 3-year and 7-year investment-grade Green Bonds in the second half of 2024, along with the decline in Singapore Overnight Rate Average (SORA), have enabled us to lower our financing costs by approximately 11.3% YoY to S$22.6 million compared to S$25.5 million in 1Q 2024. Looking ahead, our fundamentals remain strong with healthy positive reversionary rents achieved in the office segment. Singapore’s solid economic fundamentals and position as a global business hub will continue to underscore the strength of our portfolio, enabling OUE REIT to deliver stable long-term performance with sustained growth potential.”
[强]Proactive Capital Management:
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Weighted average cost of debt decreased to 4.2% p.a.
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Financing costs declined by approximately 11.3% YoY to S$22.6 million versus S$25.5 million in 1Q 2024
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Assuming a 25 basis points decrease in interest rates, DPU would increase by 0.03 Singapore cents
[强]Steady Operating Metrics:
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Office portfolio achieved a high committed occupancy of 96.3% as of 31 March 2025 and positive rental reversions of 9.9% in 1Q 2025
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Mandarin Gallery enjoyed near full committed occupancy of 99.5%
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Overall hospitality segment’s revenue per available room (RevPAR) for 1Q 2025 moderated to S$248, following exceptional performance in the same period last year
Press Release: https://lnkd.in/e2J8iB5C
Presentation: https://lnkd.in/eVvdeBCc
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