OUE Commercial REIT's OUE Downtown (Photo: REITsWeek)OUE Commercial REIT's OUE Downtown (Photo: REITsWeek)

Data from OUE Commercial REIT’s latest disclosure have been updated into the Singapore REITs table.

OUE Commercial REIT has reported a distribution amount of SGD67.2 million for the financial period 1 January 2021 to 30 June 2021 (1H 2021).

The distributable amount translates to DPU of 1.23 cents, an increase of 23.0% over 1H 2020 DPU.

The REIT’s net property income for 1H 2021 was 3.1% lower year-on-year at SGD109.0 million, partially offset by lower rental rebates and property expenses.

But due to lower interest expense, and including the share of joint venture results from OUE Bayfront, the amount available for distribution in 1H 2021 was 3.0% higher year-on-year.

The REIT’s full disclosure on its results can be viewed here.

OUE Commercial REIT was last done on the Singapore Exchange at SGD0.435, which currently implies a distribution yield of 5.66% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.