OUE C-Reit Q3 DPU buoyed by One Raffles Place stake

Singapore

OFFICE landlord OUE Commercial Reit (OUE C-Reit) posted a 29.4 per cent year-on-year jump in distribution per unit (DPU) to 1.32 Singapore cents for the third quarter ended Sept 30, buoyed mainly by the contribution from its majority stake in One Raffles Place.

Net property income and gross revenue more than doubled from a year ago - from S$15.56 million to S$35.33 million, and from S$20.61 million to S$44.18 million respectively.

Higher property operating expenses were incurred due to the inclusion of One Raffles Place's expenses, which were partially offset by lower property tax at …