OUE REIT’s net property income down 5.6% YoY in Q3

Its revenue declined 5.8% during the period.

OUE REIT Management Pte. Ltd, posted revenue and net property income (NPI) of $70.5m and $57m in the the third quarter, reflecting 5.8% and 5.6% year-on-year drops, respectively.

On a like-for-like basis, these represent increases of 1.2% and 2%.

“The decrease is mainly due to the divestment of Lippo Plaza Shanghai in December 2024,” it said.

In the office and retail segment, the REIT saw revenue and NPI increase by 4.2% and 3.8% YoY for 3Q 2025, netting $43.6m and $32.5m, respectively.

The firms’ office portfolio continued to record a positive rental reversion of 9.3% for lease renewals in the third quarter, whilst committed occupancy remained at 95.3% as of 30 September 2025.

In the hospitality sector, the REIT saw “resilient performance” despite the local Formula 1 Grand Prix rescheduling from September to October this year, which in the previous year had boosted room demand and rates during the quarter.

Revenue and NPI in this sector during the period slightly declined by 3.4% and 0.4% YoY to $26.9m and $24.5m, respectively, it said.

The segment’s revenue per available room (revPAR) decreased by 5.7% YoY to $279. Hilton Singapore Orchard’s revPAR stood at $293, whilst Crowne Plaza Changi Airport’s revPAR was $251.

Through “disciplined” capital management and further easing of Singapore Overnight Rate Average (SORA), the company said it achieved a 19.7% YoY reduction in finance costs.

OUE REIT has also capitalised on its established green credentials when it issued on 8 October $150m seven-year Green Notes due 2032 at 2.75%.

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