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S-Reits’ Q3 results mixed as higher financing costs, currency headwinds dampen distribution growth

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Jude Chan

Jude Chan

Published Thu, Nov 17, 2022 · 05:50 AM
    • The manager of Suntec Reit says its stronger operational performance was weighed down by interest rate and exchange rate pressures.
    • The manager of Suntec Reit says its stronger operational performance was weighed down by interest rate and exchange rate pressures. PHOTO: BT FILE

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    SINGAPORE-LISTED real estate investment trusts (S-Reits) have mostly reported topline growth for the third quarter. But higher interest rates and currency headwinds have taken a chunk out of distributable income to unitholders.

    Of the 34 S-Reits that reported gross revenue figures for the quarter, 28 saw an improvement – mostly on the back of a global lifting of pandemic-related curbs. Among the 33 that reported net property income (NPI) data, 26 did better year on year.

    The S-Reits that posted topline declines were those whose assets are mostly overseas.

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    S-ReitsFinancial results

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