Suntec REIT - UOB Kay Hian 2025-10-27: 3Q25 Boost From Favourable Tax Ruling Down Under

• Suntec REIT reported DPU of 1.778 cents (+12.5% y-o-y) for 3Q25, which is above our expectation.

Singapore office: Moderation in rent growth.

• - Read this at SGinvestors.io -
• Suntec REIT benefits from tight vacancy in the Core CBD and past quarters of robust rent reversion. Management expects a moderation in rent growth. Suntec City Office could face competition from the redeveloped Shaw Tower at Beach Road with NLA of 441,700sf, which is scheduled to complete in 2Q26.

Suntec City Mall: Riding on healthy growth in domestic consumption and recovery in tourist arrivals.

• - Read this at SGinvestors.io -
• Strategic initiative to create 13 new retail units helped to bring in 12 new-to-Suntec retail concepts and generated ROI of above 40%. NPI from Suntec City Mall jumped 2.5% y-o-y in 3Q25. Management expects occupancy to remain above 95% in 2026 but rental reversion could moderate towards 10%.

Australia: Challenges from entrenched WFH trend in Melbourne.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2026-01-26 Suntec REIT - Reviewing Strategy After New Sponsor Installed.

Price targets by 3 other brokers at Suntec REIT Target Prices.

Listing of research reports at Suntec REIT Analyst Reports.

Relevant links:
Suntec REIT Share Price History,
Suntec REIT Announcements,
Suntec REIT Dividend Payout Dates & Corporate Actions,
Suntec REIT News