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OUE C-REIT reports 15.8% y-o-y lower distributable income of $31.2 mil for 1QFY2022

Felicia Tan
Felicia Tan5/12/2022 07:08 PM GMT+08  • 3 min read
OUE C-REIT reports 15.8% y-o-y lower distributable income of $31.2 mil for 1QFY2022
According to the REIT, its hospitality segment is positioned to ride the recovery in Singapore.
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OUE Commercial REIT (OUE C-REIT) has reported a 15.8% y-o-y drop in distributable income of $31.2 million for the 1QFY2022 ended March.

During the quarter, revenue fell 20.3% y-o-y to $59.5 million, while net property income (NPI) fell 21.5% y-o-y to $48.0 million.

The lower revenue and NPI were due to the deconsolidation of OUE Bayfront’s performance post the divestment of a 50% interest in the property on March 31, 2021.

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