OUE Reit H1 DPU gains 5.4% to S$0.0098 on capital management, resilient Singapore portfolio

[SINGAPORE] OUE real estate investment trust (OUE Reit) reported a distribution per unit of S$0.0098 for the first half ended Jun 30, 2025, up 5.4 per cent from S$0.0096 in the corresponding year-ago period. 

The growth reflects the manager’s effective capital management and the resilience of its diversified Singapore portfolio, its manager said in a Wednesday (Jul 23) evening bourse filing.

Distributable income, at S$54.3 million, was 5.9 per cent higher than H1 2024’s S$51.3 million.

Excluding the capital distribution in the first half of 2024, core DPU increased 11.4 per cent year on year, it added. 

Unitholders will receive the H1 2025 distribution on Sep 3, after the books are closed on Jul 31.

The improved DPU came even as revenue and net property income (NPI) slid. 

Revenue in H1 2025 was S$131.1 million, falling 10.6 per cent from S$146.7 million in the first half of 2024. NPI similarly dropped 10.1 per cent to S$105.3 million, from S$117.1 million.

The manager attributed this mainly to the absence of revenue contributions from Lippo Plaza Shanghai.

On a like-for-like basis, revenue and NPI slightly decreased, by 2.7 per cent and 2 per cent year on year respectively, with the resilient Singapore commercial portfolio performance partially offsetting lower contributions from the hospitality segment, it said.

Units of OUE Reit closed flat at S$0.31 on Wednesday, before the announcement.