OUE Commercial REIT (OUE REIT) has reported a 13.3% drop in distributable income of $26.2 million for the 3QFY2022 ended September.
This is mainly due to lower income support for OUE Downtown Office and higher interest expenses.
During the quarter, revenue increased by 1.7% y-o-y to $59.5 million, while net property income (NPI) increased 4.4% y-o-y to $48.3 million. The better performance was attributed to lower property expenses.
