OUE C-REIT’s 1Q DPU rises 33.3% to 1.32 cents

SINGAPORE (May 10): OUE Commercial REIT posted a 33.3% rise in 1Q16 DPU to 1.32 cents from 0.99 cents a year ago.

OUE C-REIT delivered gross revenue of $42.9 million in 1Q16, more than doubling the $20.4 million achieved in 1Q15 due to contribution from One Raffles Place which was acquired in October 2015, as well as better performance at OUE Bayfront.

Higher property operating expenses were incurred due to the inclusion of One Raffles Place’s expenses as well as higher property tax at OUE Bayfront.

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