Suntec REIT FY2025 distributable income jumps 14.6%; DPU up 13.6% on strong Singapore portfolio and lower funding costs
Summary:
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Suntec REIT reported distributable income of S$207.3 million for FY2025, up 14.6% year-on-year, with distribution per unit (DPU) rising 13.6% to 7.035 cents.
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The uplift was driven by stronger operating performance from the Singapore office, retail and convention assets, plus lower financing costs, which more than offset weaker contributions from overseas properties, notably The Minster Building in London and 55 Currie Street in Adelaide.
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Management expects the Singapore office portfolio to stay resilient on tight CBD vacancies with positive rental reversions near 5%, while Suntec City Mall and the broader retail portfolio are guided to maintain high occupancies and around 10% positive rent reversion despite cautious consumer sentiment.
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Suntec Convention is expected to improve further as Singapore strengthens its MICE competitiveness, while the Australian portfolio should remain stable on strong occupancies and flexible leasing strategies; in the UK, enhancement and subdivision works aim to lift leasing at The Minster Building, with Nova Properties’ performance expected to stay stable.