News

Commercial Property

Staff Reporter

, Singapore

Published:

1 year ago

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Photo by Cottonbro Studio from Pexels

Keppel DC REIT DPU climbs 13.2% YoY in H2 2024

This was driven by the acquisition of Tokyo Data Centre 1.

Keppel DC REIT reported a 13.2% year-on-year (YoY) increase in its distribution per unit to $0.04902 during the second half of the financial year 2024 (H2 2024).

This was driven by the acquisition of Tokyo Data Centre 1, strong reversions, and the favourable outcome of dispute settlement between Keppel DC Singapore 1 Limited and DXC Technology Services Singapore.

Income available for distribution during the period was $91.8m, an increase of 20.2% YoY whilst net property income grew by 8.5% YoY to $127.6m.

As of 31 December 2024, the group’s portfolio occupancy remained high at 97.2% with a portfolio weighted average lease expiry of 6.3 years.

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