OUE Commercial Real Estate Investment Trust (SG:TS0U) has released an update.
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OUE Commercial Real Estate Investment Trust reported a solid start to 2024 with a 9.5% increase in revenue and a 6.9% rise in net property income, driven by the Hilton Singapore Orchard and robust commercial property performance. The company’s hospitality segment saw a significant uptick with a 23.3% increase in RevPAR, while their Singapore office properties and Mandarin Gallery maintained high occupancy rates with substantial rental growth. OUE REIT also bolstered its financial stability with a S$600 million sustainability-linked loan to refinance debt and cover corporate needs.
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