Keppel REIT YoY unit distribution grows 9%

Units distributed amounted to $212.1m, including capital gains distribution of $2.0m.

The managers of Keppel REIT announced the unaudited results of Keppel REIT for the second half and full-year ended 31 December 2021.

Keppel REIT has announced $106.4m in distribution to unitholders for the second half (H2) 2021, including capital gains distribution of $2m for the period. This brought distribution to unitholders for the financial year (FY) 2021 to $212.1m, an increase of 9% from FY 2020.

The distribution per unit (DPU) for H2 2021 was 2.88 cents, bringing DPU for FY 2021 to 5.82 cents, which was a 1.6% increase over the previous year. The distribution yield as of the end of December 2021 was 5.2%, based on the market closing price of $1.13 per unit.

Keppel REIT's portfolio committed occupancy was 95.4% as of 31 December 2021, whilst portfolio and top 10 tenants' WALE remained long at approximately 6.1 years and 10.8 years respectively. The tenant retention rate was 62% for FY 2021. Additional tenant relief measures granted in FY 2021 amounted to approximately $2.5m, mostly to ancillary retail tenants. The rental collection remained healthy at 99.6% for FY 2021.

Keppel REIT strives to uphold high ESG standards and is pleased to have been recognised in various international ESG benchmarks. In December 2021, Keppel REIT's MSCI ESG Rating was upgraded to A from BBB. Keppel REIT also retained its Prime status in ISS ESG corporate rating, as well as 4 Star rating and Green Star status in the 2021 Global Real Estate Sustainability Benchmark.

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