Keppel REIT's net property income surged 9.9% to $100.9m

Thanks to contributions from its Aussie assets.

In a release, Keppel REIT announced its unaudited financial results for the third quarter and nine months ended 30 September 2013.

Total Return before Tax increased 14.6% year-on-year to $115.9 million. Net Property Income for YTD Sep 2013 increased 9.9% y-o-y to $100.9 million due mainly to improved performance from Ocean Financial Centre and the additional contribution from 8 Exhibition Street, a premium freehold Grade A office building in prime central business district of Melbourne, Australia.

Meanwhile, Share of Results of Associates for YTD Sep 2013 registered an improvement of 33.2% y-o-y to $46.4 million due to improved performance from Marina Bay Financial Centre Phase 1 and One Raffles Quay

Also, Distributable Income for YTD Sep 2013 rose 6.1% y-o-y to $159.1 million while its overall committed portfolio occupancy increased from 99.1% to 99.4%.

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