OUE REIT NPI rises 4.8% to $110.3m in H1

Revenue increased 3.8% to $136.1m during the period.

OUE REIT's net property income (NPI) rose 4.8% year-on-year (YoY) to $110.3m in the first half (H1) of 2026, according to a bourse filing.

Revenue for the six months ended 30 June grew 3.8% to $136.1m. Finance costs fell 16.6% to $37.8m from $45.3m.

Distribution per unit increased 28.6% to 1.26 Singapore cents from 0.98 cents, whilst the amount available for distribution went up by 28.6% to $69.8m from $54.3m.

The REIT will pay its H1 2026 distribution on 3 September, with books closing on 30 July.

It recorded $8.2m in share of results from its 50% stake in OUE Bayfront, up 30.6% YoY.

Meanwhile, its newly acquired 19.9% stake in Sydney's Salesforce Tower, completed on 16 March, contributed $2.2m during the period.

OUE REIT said first-half hospitality performance strengthened, whilst contributions from its Singapore commercial portfolio remained stable.

Hospitality revenue rose 11.2% to $50.1m, whilst the segment’s NPI increased 12.3% to $45.1m.

The commercial segment saw revenue slip 0.1% to $86m, whilst NPI edged up 0.1% to $65.3m.

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