One Raffles Place boosts OUE C-Reit's Q1 DPU

Singapore

BOLSTERED by its One Raffles Place acquisition, OUE Commercial Reit's (OUE C-Reit) distribution per unit (DPU) for the first quarter ended March 31, 2016, jumped 33.3 per cent to 1.32 Singapore cents, up from 0.99 cent in the corresponding period a year ago.

Gross revenue more than doubled to S$42.91 million, as did net property income, which stood at S$33.26 million in Q1 2016. OUE did not m…