With the REIT earnings season behind us, it’s time to take stock of how the sector has performed. Of the 22 Singapore REITs that reported distribution figures, only four achieved a higher distribution per unit (DPU) with 17 reporting a year-on-year decline. OUE REIT (SGX: TS0U) managed to report an unchanged DPU for the second half of 2023 (2H 2023). The commercial and hospitality REIT announced a rebranding exercise late last month to change its name from “OUE Commercial REIT” to “OUE REIT” to better reflect its current focus on growth opportunities in the hospitality, office, and retail sectors. Here are five highlights from the REIT’s latest 2023 earnings.

1. A resilient financial performance

For 2H 2023, revenue rose 16.4% year on year to S$146.3 million, driven by a strong operating performance in OUE REIT’s Singapore portfolio along with a higher room inventory for Hilton Singapore Orchard after it completed its asset enhancement initiative (AEI). Net property income (NPI) improved by 15.9% year on year to S$119.7 million....