OUE Commercial REIT’s (OUECT) FY2020 distributions per unit (DPU) fell by 26.6% to 2.43 cents, giving an historic yield of 6.39 %. Amount for distribution for the same period rose 7.8% y-o-y to $132.8 million. In 1H2020, OUECT retained $10.8 million. Of this, $5.8 million was released in 2H2020.

In terms of segment contribution by income, 23.1% is from hospitality, 14.8% from retail and the remaining 62.1% is office. FY2020 was challenging for retail and hospitality. Hence, during 2020, OUECT extended approximately $18.3 million of rental rebates to support tenants. This excludes the $21.9 million of support from the Singapore Government comprising property tax rebates and cash grants.


SEE: OCBC positive on OUE Commercial REIT, but notes weak leasing in Mandarin Gallery


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