On 3rd November 2022, OUE Commercial REIT announced their business update for 3Q 2022. The REIT has 3 category of properties in its portfolio. The category of properties are office, hospitality and retail. In the office segment, rental growth was driven by demand from technology firms, flexible workspace operators and non-banking financial companies. In hospitality and retail segment, there was also strong growth in RevPAR and retail rental driven by gradual recovery of tourism. Below are more details of its operational performance. 3Q 2022 Financial Performance Revenue increased 1.7% YoY to S$59.5 million. Despite the increase in revenue, the amount available for distribution was 13.3% lower year on year at S$26.2 million. This was mainly due to lower income support for OUE Downtown Office and higher interest expense. Net Property Income (NPI) increased 4.4% year on year to S$48.3 million mainly due to...