Lendlease Global Commercial REIT posts 3% DPU growth in FY2026

Net property income increased 2.7% to $152.7m.

Lendlease Global Commercial REIT’s distribution per unit (DPU) rose 3% year-on-year (YoY) to $0.0185 for the second half of FY2026, bringing its full-year DPU to $0.0370, also up 3% YoY.

The increase was supported by recurring earnings from a strong portfolio of operational assets in Singapore.

Unitholders will receive the second-half distribution on 21 September 2026.

For FY2026, gross revenue rose 2.6% YoY to $211.9m, whilst net property income (NPI) increased 2.7% to $152.7m.

The growth was mainly driven by the acquisition of PLQ Mall and stronger operating performance across its Singapore properties, which offset the impact of the divestment of Jem’s office component on 12 November 2025.

Property operating expenses increased by $1.4m to $59.2m during the year.

Finance costs declined by $11.3m YoY, due mainly to lower interest rates and a lower average loan balance during FY2026.

As at 30 June 2026, the REIT’s portfolio committed occupancy rate was 94.6%.

Its retail assets recorded an occupancy rate of 98.5%, whilst the Milan office portfolio had an occupancy rate of 89.1%.

The portfolio was valued at $4.22b as at 30 June 2026.

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Lendlease Global Commercial REIT

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