OUE C-Reit Q3 distributable income up 15.8% after merger

Singapore

THE distributable income of OUE Commercial Reit (C-Reit) rose 15.8 per cent year on year to S$34.2 million for the third quarter ended Sept 30, the real estate investment trust's (Reit) manager said in an update on the Singapore Exchange on Thursday.

Net property income was up 11.4 per cent at S$55.8 million, with the increase due to the merger with OUE Hospitality Trust in September 2019, said OUE C-Reit. The increase was partially offset by some S$5 million in rental rebates to retail tenants.