Total outlet sales cross one billion yuan in the quarter

[SINGAPORE] The manager of Sasseur Real Estate Investment Trust (Sasseur Reit) on Thursday (Nov 13) posted rental income of 166.3 million yuan (S$30.4 million) for its third quarter ended September, an increase of 4.9 per cent from 158.6 million yuan in the same period the year before.

 

This was underpinned by strong outlet sales performance during the period, according the Reit&rsquo s Q3 business update.

 

Its total outlet sales crossed one billion yuan in Q3 at 1.1 billion yuan, up 10.8 per cent year on year from 958.4 million yuan.

 

Additionally, cost of debt lowered to 4.6 per cent, supported by a 100 per cent renminbi-denominated loan structure. This maximises natural hedging and further improves the cost of debt, said the manager. 

 

Portfolio occupancy for Q3 stood at 98.5 per cent, with a weighted average lease expiry of two years as at Sep 30. 

 

Aggregate leverage was 25.5 per cent as at end-September, with an interest coverage ratio of 4.5 times. The weighted average cost of debt is at 4.6 per cent. 

 

Looking ahead, the manager believes China&rsquo s economy will be &ldquo resilient amid continued market challenges&rdquo . This comes as China&rsquo s gross domestic product grew 4.8 per cent year on year in Q3 2025, though down slightly from the previous two quarters. While retail sales rose 3 per cent on the year in September 2025, consumer spending remained soft due to concerns over the prolonged property downturn. 

 

&ldquo Overall, consumer confidence index has improved compared with last year, reaching 89.6 in September 2025,&rdquo said the manager. 

 

The Reit manager aims to curate immersive retail experiences for shoppers via proactive asset enhancement initiatives. This is on top of managing proactive refinancing strategies to reduce finance costs.