- Suntec REIT (SGX:T82U) reported strong 1Q26 results with DPU increasing 23.9% y-o-y to 1.936 cents, which is above our expectation.
- The robust growth was driven by strong operating performance from the Singapore office and retail portfolios, alongside lower financing costs and a reduction in Australia withholding tax provisions following qualification as an Australia Managed Investment Trust.
Singapore office portfolio benefitted from limited CBD supply and tight vacancies
- - Read this at SGinvestors.io -
- JV income increased 9% y-o-y in 1Q26. Management expects occupancy to stay high, positive rental reversion of 5% and positive impact from strong rental reversions secured in recent quarters.
Suntec City Mall delivered high committed occupancy of 99%
- - Read this at SGinvestors.io -
- Continued efforts to refresh the trade mix with new market entrants are expected to drive shopper traffic and sustain income resilience.
The Australia portfolio delivered stable revenue
- Read more at SGinvestors.io.
