Suntec REIT FY2025: Singapore Portfolio Near Full, UK Minster Slips, Australia Mixed

Suntec REIT FY2025 Annual Report (year ended 31 Dec 2025) shows a resilient Singapore portfolio at near-full occupancy, a standout UK occupancy decline at The Minster Building, and diverging trends across the Australian portfolio. Total portfolio valuation rose +0.7% to S$11.83B.

• ▸Suntec City Office: Occ +1.0pp to 99.8%; gross rent reversion +25.9% — strongest leasing momentum in the portfolio.
• ▸One Raffles Quay: Occ -1.6pp to 97.1%; valuation +S$27.0M (+2.0%) to S$1,387.0M.
• ▸MBFC Towers 1 & 2: Occ -3.1pp to 95.4%; Marina Bay Link Mall retail occ +4.5pp to 98.9%; combined valuation +S$43.9M (+2.4%) to S$1,877.2M.
• ▸Suntec City Mall: Retail occ +1.1pp to 99.5%; strong full-year rent reversion of 16.2%.

• ▸Nova Properties: Achieved 100% committed occupancy (FY2024: 99.6%); valuation +S$17.8M (+2.6%) to S$691.0M.
• ▸The Minster Building: Occ -5.4pp to 85.4% — standout occupancy decline in FY2025; valuation +S$9.9M (+2.2%) to S$468.5M.

• ▸177 Pacific Highway: Occ held at 100%; valuation -S$23.1M (-4.6%) to S$477.1M on weaker AUD.
• ▸21 Harris Street: Occ -2.2pp to 97.8%; valuation -S$16.0M (-7.6%) to S$195.1M.
• ▸Olderfleet 477 Collins Street: Occ held at 100%; valuation +S$5.0M to S$365.3M.
• ▸Southgate Complex: Office occ -1.5pp to 88.5%; retail occ -15.7pp to 75.3%; valuation -S$4.4M to S$279.9M.
• ▸55 Currie Street: Occ +4.6pp to 66.0%; valuation +S$4.8M to S$102.3M.

Suntec REIT's FY2025 narrative is Singapore strength offsetting overseas pressure. SG portfolio at near-capacity with positive rent reversions; UK and Australian books face selective softening. NAV per unit S$1.688 (FY2024: S$1.680).