First Reit’s 9-month distributable income falls 6.1% to S$34.8 million

Its DPU for period is S$0.0165, a 7.3% decline from same period in the prior year

The manager of First Real Estate Investment Trust (Reit) reported a 6.1 per cent fall in the trust’s distributable income for the nine-month period ending Sep 30 to S$34.8 million, from S$37 million in the corresponding period in the previous year.

The distribution will be paid out on Dec 18.

In a bourse filing on Tuesday (Oct 28), the Reit’s manager reported a distribution per unit of S$0.0165 for 9M 2025, a decline of 7.3 per cent from S$0.0178 in the same period in the prior year. The fall was mainly due to the depreciation of the Indonesian rupiah against the Singapore dollar and an enlarged unit base due to the issuance of units as payment of fees to the manager.

Rental and other income fell 2 per cent to S$75.5 million in 9M 2025 from S$77 million in 9M 2024. Net property and other income was down 1.4 per cent at S$73.3 million from S$74.4 million in the first nine months of 2024. This was mainly driven by the depreciation of the Indonesian rupiah against the Singapore dollar. The impact was partly offset by higher rental income from properties in Indonesia and Singapore.

The strategic review of First Reit is still ongoing, and the manager will update unitholders on any material developments.

Units of First Reit closed down 1.8 per cent or S$0.005 at S$0.28 on Tuesday.