The manager of OUE Commercial Real Estate Investment Trust (OUE C-REIT) has reported net property income (NPI) of $61.1 million for the 1QFY2021 ended March, 1.6% lower than NPI of $62.1 million a year ago.

The lower NPI was mainly due to the provision of rental rebates to selected tenants and partly offset by lower property operating expenses.

Revenue for the quarter fell 3.9% y-o-y to $74.7 million.

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