Sasseur REIT’s Q1 portfolio sales hit record $261.7b

EMA rental income rose 5.7% in RMB terms, driven by double-digit outlet sales growth.Sasseur REIT’s portfolio sales rose 11.4% YoY to $261.7b (RMB1.39b) in Q1 2026, marking its highest first-quarter portfolio sales since listing.The growth was driven by stronger sales across all four outlets, supported by Chinese New Year promotional campaigns and shopper engagement activities.Chongqing Liangjiang sales increased 11.1% YoY to 137.8m (RMB732.2m), whilst Chongqing Bishan rose 16.4% to $23.3m (RMB124.0m). Hefei sales grew 14.5% to $61.3m (RMB325.4m), and Kunming sales climbed 5.3% to $39.3m (RMB208.8m).Chongqing Liangjiang and Hefei each achieved record first-quarter sales since listing, whilst Kunming recorded growth despite ongoing tenant repositioning.EMA rental income in RMB rose 5.7% YoY to $34.9m (RMB185.5m). In Singapore dollar terms, EMA rental income increased 5.1% YoY to $34.2m.The higher EMA rental income was supported by an 11.5% YoY increase in variable component income, in line with the 11.4% rise in outlet sales, as well as a 3.0% annual increase in fixed component income.Portfolio occupancy remained high at 98.5% in 1Q 2026. Chongqing Liangjiang maintained full occupancy at 100%, whilst Chongqing Bishan stood at 99.3%, Kunming at 98.7%, and Hefei at 97.2% amid ongoing asset enhancement works.Sasseur REIT also reported continued growth in its VIP base, which crossed the 5 million mark to reach 5.05 million members as at 31 March. VIP members contributed more than 60% of the portfolio’s 1Q 2026 outlet sales.On capital management, the REIT lowered its weighted average cost of debt to 3.9% as at 31 March, from 4.4% at the end of 2025. Aggregate leverage remained low at 25.4%, whilst the interest coverage ratio improved to 5.0 times from 4.7 times.Sasseur REIT had gross borrowings of $444.1m and an average debt maturity of 5.1 years. Its debt headroom stood at $862.5m.For 2026, the REIT said it will focus on proactive asset management, prudent capital management, and acquisition-led growth, including strengthening brand partnerships, growing its VIP base, reducing finance costs, and seeking accretive acquisitions.