Sasseur REIT Q3 rental income falls 3.6% in SGD, 2.0% in RMB

The decline in SGD terms was due to the depreciation of the RMB against the SGD.

Sasseur REIT’s Q3 rental income under its Entrusted Management Agreement (EMA) model, reported a 3.6% year-on-year (YoY) decline in SGD terms due to the depreciation of the RMB against the SGD.

In RMB terms, EMA rental income slipped 2.0% YoY due to the 13.2% YoY decline in variable component income, partially offset by a 3% YoY increase from fixed component income.

The REIT maintained a portfolio occupancy of 98.0%. Meanwhile, outlet sales dropped 14.0% YoY due to extreme heat waves in Chongqing, four earthquakes in Hefei City in September, and a decline in demand for fashion goods from international brands across four outlets.

DPU for FY2024 stood at $0.03153.