One Raffles Place stake boosts OUE C-Reit Q2 DPU

Singapore

REVENUE contribution from its majority stake in One Raffles Place gave a lift to earnings for office space landlord OUE Commercial Real Estate Investment Trust (OUE C-Reit) in its second quarter.

But the trust manager warned in its results statement that new office supply coming onstream in the second half of this year in both Singapore and Shanghai could raise vacancy rates in both markets.