Keppel REIT's distributable income jumps 53.4% to $56m in Q1

Thanks to higher returns from joint ventures.

Keppel REIT reported a 53.4% year-on-year increase in its distributable income to $56m in the first quarter.

Keppel REIT said that its properties in Singapore and Australis reported consistent performance, while its joint ventures enjoyed improved returns.

The group's net property income dropped 4.8% to $32.9m.

Keppel REIT declared a distribution per unit (DPU) of 1.68 cents in Q1, which translates to an annualised yield of 6.8%.

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