Keppel DC REIT outperforms IPO forecast with $26.2m maiden net property income

On back of higher portfolio occupancy.

Keppel DC REIT’s maiden results showed that it has outperformed its IPO forecast by 2%, with net property income reported at $26.2m.

Keppel DC REIT also reported a distributable income to shareholders of $17.2m, which was 1.3% higher than forecast.

According to its management, the higher distribution income were mainly driven by non-recurring service income which was generated from Citadel 100 Data Centre and Gore Hill Data Centre.

The REIT was listed in December. Its last closing price of $1.02 was 9.1% higher than its IPO price of $0.93.

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