Keppel DC REIT net property income up 8.4% for 1H2021

The company said their income was driven by its latest acquisitions.

Data centre-focused Keppel DC REIT reported an 8.4% increase in their net property income, to $123.8m from $114.2m, for the first half of 2021.

In a bourse disclosure, Keppel DC REIT added that its distributable income was $84.3m, 12.4% higher than the same period last year.

The growth in distributable income was due mainly to contributions from the accretive acquisitions of Amsterdam Data Centre and Kelsterbach Data Centre in Frankfurt, as well as the completion of the asset enhancement initiative works at Keppel DC Singapore 5 and Keppel DC Dublin 1 in the second half of 2020, and Keppel DC Dublin 2 and DC 1 in the first quarter of 2021,” it said in the report.

Portfolio occupancy is at 98.0% as of end-June, driven by new, renewed, and expanded leases with clients at Keppel DC REIT’s Singapore and Dublin data centres.

In April, it announced an investment mandate that will include real estate and assets that support the digital economy, whilst maintaining at least 90% of its assets in data centres.

It plans to continue pursuing third party acquisition opportunities moving forward.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Thanks to the renewal of interest in the Singapore market.
The electronics cluster showed the most optimism.
The initiative aims to improve the overseas service exports environment.
This is the group’s 2nd sustainability notes issuance in the SGD bond market.
A Jefferies report said Singapore banks have enough buffers.
HongkongLand, CapitaLandInvest, and ComfortDelGro showed the most growth.
Mizuho Securities Asia Limited will be the notes dealer.
The company’s first batch has been fully allocated in the country.
The total consideration of up to $539m over three years will take effect. 
This is to address the increased global demand for healthcare products.
Thanks to the company's improved distribution channels.
Hiring activities online increased by 55.7% in August.
CapitaLandInvest, Capland IntCom T, and Sembcorp Industries showed the most growth.
This low turnout is due to the large quantum of the project, experts say.