OUE REIT reported FY2025 revenue of 273.6 million Singapore dollars, broadly flat on a like-for-like basis, while net property income rose 1.6 % year on year to 219.6 million Singapore dollars after stripping out the impact of last year’s Lippo Plaza divestment.

Finance costs fell 17.6 %, lifting amount available for distribution to 123.8 million Singapore dollars, up 13.9 %. Full-year distribution per unit increased 8.3 % to 2.23 Singapore cents; core DPU gained 13.8 %. Net asset value per unit stood at 0.56 Singapore dollars and aggregate leverage eased to 38.5 % with a 3.9 % weighted average cost of debt.

The trust said it will enter “Phase 3” of its value-creation roadmap by acquiring a 19.9 % interest in Salesforce Tower at 180 George Street, Sydney, for 357.2 million Australian dollars (about 319.8 million Singapore dollars). The freehold, 55-storey building is 99.2 % occupied, carries a 5.8 % initial passing yield and a weighted average lease expiry of 5.5 years by gross rental income.

Funding will come from debt and part of the Lippo Plaza sale proceeds. Post-deal, OUE REIT’s portfolio value will rise to about 6.1 billion Singapore dollars, with commercial properties contributing roughly 67.8 % of pro-forma revenue. The transaction is expected to add 0.02 Singapore cents to FY2025 pro-forma DPU and keep aggregate leverage stable at 40.2 %.

Management said the enlarged, predominantly Singapore-based portfolio—augmented by the Sydney asset—positions the REIT for resilient income and sustainable growth.