Keppel DC Reit’s DPU up 3% in Q1 23 due to data centres investment

New acquisitions of Guangdong data centres contributed to the increase.

Property firm, Keppel DC Reit, revealed that its distribution per unit (DPU) grew 3% from 2.466 in the first (Q1) quarter of 2022 to 2.541 in Q1 2023.

According to its operational updates, the increase in DPU was attributed to the rise in gross revenue from securing Guangdong Data Centre 2 & building the shell of Guangdong Data Centre 3.

Aside from this, contributors also include Completed asset enhancement initiatives (AEI), renewals and income escalations, and tax savings from approvals obtained for the NetCo bonds to be qualified as QPDS.

Net property income went up $63.8m in Q1 2023  from $60.12m  in Q1 2022 whilst gross revenue went up 6.5%.