Lendlease Global Commercial REIT (SG:JYEU) has released an update.
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Lendlease Global Commercial REIT has reported a robust third-quarter update with a 15.3% positive retail rental reversion and a high tenant retention rate of 86.2%. The REIT’s retail portfolio occupancy remains strong at 99.4%, and it has successfully hedged against volatile electricity markets with a two-year contract that is expected to cut utility expenses by 30% annually. Additionally, tenant sales and visitation have shown a year-on-year increase of 2.6% and 6.1%, respectively, indicating a positive growth trend.
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