---
title: "OUEREIT's net real estate income in the first quarter increased by 8.4% year-on-year | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283518736.md"
description: "OUE Real Estate Investment Trust (OUE REIT) reported a year-on-year increase of 8.4% in net property income for the first quarter, reaching SGD 57.6 million, with revenue rising 6.7% year-on-year to SGD 70.5 million. The growth was mainly driven by strong performance in the hotel sector, with hotel revenue increasing by 15.1% year-on-year to SGD 26.8 million, and net property income growing by 16.8% to SGD 24.3 million. The increase in rental rates for office buildings and retail malls also contributed to revenue growth. The committed occupancy rate for office buildings remained at 95.2%"
datetime: "2026-04-21T14:22:19.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283518736.md)
  - [en](https://longbridge.com/en/news/283518736.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283518736.md)
---

# OUEREIT's net real estate income in the first quarter increased by 8.4% year-on-year | Lianhe Zaobao

OUE Real Estate Investment Trust (OUE REIT) reported a year-on-year increase of 8.4% in net property income for the first quarter, reaching SGD 57.6 million.

According to the latest business report released by OUE REIT after the market closed on Tuesday (April 21), revenue for the first quarter rose 6.7% year-on-year to SGD 70.5 million. The increase in net property income and revenue was attributed to strong double-digit growth in the hotel sector and good performance in commercial real estate.

Hotel business revenue increased by 15.1% year-on-year to SGD 26.8 million; net property income grew by 16.8% to SGD 24.3 million; and average revenue per available room (RevPAR) rose by 11.7% to SGD 277.

The continuous rent increases in office buildings and retail malls over several quarters drove net property income and revenue growth of 3% and 2.2%, respectively.

#### Further Reading

Keppel REIT's distributable income for the first quarter increased by 19.7% Raffles Place One reportedly for sale, expected price around SGD 2.3 billion to SGD 2.4 billion

As of the end of March, the committed occupancy rate for office buildings remained at 95.2%, and during lease renewals, a 6% rent increase was consistently achieved. Current passing rent increased by 0.2% to SGD 11 per square foot per month.

On March 16, OUE REIT completed the acquisition of a 19.9% stake in 180 George Street, Sydney, Australia. As of the end of March, the occupancy rate of this building reached 99.2%, with a weighted average lease expiry (WALE) of 5.3 years, providing stable rental income.

Looking ahead, Singapore's office market is expected to continue favoring landlords. Despite potential market challenges in the near term due to global trade tensions, significant fluctuations in the energy market, and rising inflation pressures, Singapore's strong structural fundamentals will continue to provide robust support OUEREIT's unit price rose 1.37% on Tuesday, closing at HKD 0.37

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