Starhill Global Reit’s net property income edges up 0.2% to S$37.9 million in Q1 FY2026

The Reit’s improved performance was mainly driven by stronger contributions from its Singapore retail and Malaysia segment

The manager of Starhill Global Reit reported a marginal rise of 0.2 per cent in the Real estate investment trust’s (Reit) net property income to S$37.9 million for the first quarter of the 2026 financial year ended Sep 30.

In a Wednesday (Oct 29) bourse filing, the Reit manager also recorded a 0.7 per cent increase in revenue to S$48.3 million in Q1, from S$48 million in Q1 FY2025.

Its Ngee Ann City property continues to make up the bulk of revenue and net property income, followed by its Wisma Atria property.

The Reit’s improved performance was mainly driven by stronger contributions from its Singapore retail and Malaysia properties.

This offset the loss of contribution from its divested Wisma Atria office strata units, rental arrears provision for its China Property segment, and depreciation of the Australian dollar against the Singapore dollar.

The Reit currently has a committed portfolio occupancy rate of 94.8 per cent, and gearing of 36.7 per cent with a weighted average debt maturity of 3.9 years.

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The manager noted that prime retail rents in Orchard Road rose 2.4 per cent in Q3 2025, marking 13 consecutive quarters of growth since Q3 2022. Meanwhile, Grade A and B core central business district (CBD) office rents increased 2.1 per cent and 2.3 per cent, respectively, in Q3 2025.

In Australia, super prime CBD retail rents continued to rise year on year across its Adelaide and Perth properties in Q3 2025. Prime CBD office rents in Adelaide also grew in the same quarter.

Units of Starhill Global Reit closed unchanged at S$0.59 on Wednesday.