OUE Commercial REIT has released its 2H2020 financial results on 28 January 2021. At this point of writing, unitholders would already seen the distribution being paid into your bank account.
Due to my busy work schedule, I was not able to look at OUE Commercial REIT’s performance when the financial results are released last month. I thought I should take a look since part of OUE Commercial REIT business is the hospitality sector whereby tourism has been badly hit by the COVID-19 pandemic. How is the REIT doing after 1 year on from the onset of the pandemic?
Let us take a look at the financial results below.
Gross revenue for 2H2020 declined slightly by 0.1% to S$150 million.
Net property income in 2H2020 was lower YoY due mainly to rental rebates granted to retail tenants to cushion the impact of business disruption due to COVID-19....