Sasseur REIT’s rental income up 1.6% YoY in Q1

The Reit's portfolio sales declined 0.9%.

Sasseur REIT reported entrusted management agreement (EMA) rental income of $31.58m (RMB 175.4 m) for the first quarter ended 31 March 2025, up 1.6% from $31.07m (RMB 172.6m) a year earlier.

The growth was mainly driven by a 3% increase in fixed rental income, which offset a 1.2% decline in variable income, reflecting a 0.9% drop in outlet sales.

In Singapore dollars, Q1 rental income fell 0.2% year-on-year due to a 1.7% depreciation of the RMB against the Singapore dollar.

The Reit's portfolio sales declined 0.9% to $1.98m (RMB 11.0m) in Q1 2025, mainly due to weaker performance at Hefei and Kunming outlets. This was partially offset by strong sales at the Chongqing Liangjiang outlet, supported by a broader range of new products.

Sales in January and February rose 1.2% YoY, driven by strong consumer demand during Chinese New Year promotions. However, March sales softened across all outlets as post-festival consumer spending remained cautious.