- Keppel Pacific Oak US REIT (KORE, SGX:CMOU)’s 1H25 financials came in slightly below estimates. Our earlier concerns on a tariff-induced decline in US office demand have proven unfounded with the outlook brightening amid improving return-to-office trends.
- - Read this at SGinvestors.io -
- KORE is on track to progressively resume dividend payouts from FY26, with a token dividend anticipated for 2H25. Key rerating catalysts are interest rate cuts and higher dividend payouts.
Portfolio occupancy expected to dip slightly
- Portfolio occupancy expected to dip slightly from known vacates with ~170k sq ft (3.6% of portfolio NLA) likely to be vacated across assets in 2H. Leasing demand, however, has picked up from expansionary demand as well as new leases from sectors such as technology, professional services, finance and insurance.
- - Read this at SGinvestors.io -
- KORE guided for year-end occupancy to be in the 85-88% range.
Rents starting to tick up amidst a tight office supply and continued flight to quality.
- Read more at SGinvestors.io.
