OUE Commercial Reit's Q1 DPU beats forecast

Singapore

OUE Commercial Reit (OUE C-Reit) on Wednesday announced a distribution per unit (DPU) of 1.44 Singapore cents for the first quarter ended March 31, 2015 - beating its own forecast by 2.9 per cent - in what it described as the fifth consecutive quarter of outperformance since its initial public offering on Jan 27, 2014. The latest quarter's DPU also marks a 44.4 per cent rise from the prior period's (Jan 27-March 31, 2014) DPU of one Singapore cent.

Gross revenue for the quarter came up to S$20.4 million, exceeding its forecast by 7 per cent, on the back of "better-than-expected" occupancy and higher rental reversions at both OUE Bayfront and Lippo Plaza.