Dexus holds firm on 2024 payout amid office jitters

Dexus chief executive Darren Steinberg is confident the dramatic correction to office tower valuations – which sent the property platform to a $597.2 million interim loss – will bottom out by midway through this year.

“As of today we are around 15 per cent peak-to-trough in valuation declines. We anticipate there is probably a little bit more movement to go between now and June,” Mr Steinberg told The Australian Financial Review on Wednesday after delivering his final results call as chief executive.