Supply glut to pressure rents for Keppel REIT

It has a remaining 5.6% of leases due to be renewed this year.

A large new supply will continue to pressure rents for Keppel REIT. According to CIMB Research, the trust has a remaining 5.6% of leases due to be renewed/reviewed in FY17 and a further 22.5% in FY18.

CIMB noted that expiring rents are around the low $9psf. range.

"We think rents are likely to continue to come under pressure in 1H17 but the sentiment could improve as we move past the wall of incoming new supply in the latter part of 2017," it noted.

CIMB added, "Hence, we think KREIT could continue to experience slightly negative rental reversion this year."

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