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OUE C-REIT reports 13.3% y-o-y lower distributable income of $26.2 mil for 3QFY2022

Khairani Afifi Noordin
Khairani Afifi Noordin11/3/2022 08:09 PM GMT+08  • 3 min read
OUE C-REIT reports 13.3% y-o-y lower distributable income of $26.2 mil for 3QFY2022
Revenue increased by 1.7% y-o-y to $59.5 million, while NPI increased 4.4% y-o-y to $48.3 million. Photo: Albert Chua/The Edge Singapore
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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.

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