Keppel DC REIT reports 42.2% net property income surge in Q3

The company expects data centre demand to sustain its growth.

Keppel DC REIT saw an increase of 42.2% to $280.2m in net property income in the first nine months of 2025, compared to a year ago, driven by data centre acquisitions last September, according to its latest bourse filing.

In September, Keppel DC REIT completed two key acquisitions to strengthen its data centre portfolio. It acquired the remaining 51% stake in Memphis 1—owner of Keppel DC Singapore 7 and 8—for up to $8.4m, giving it full ownership of the properties. The REIT also jointly acquired Tokyo Data Centre 3, a freehold hyperscale facility in Inzai City, Greater Tokyo, for JPY82.1b ($707m). The asset is fully leased to a global hyperscaler under a 15-year agreement, enhancing the REIT’s cash flow stability and expanding its footprint in Asia’s largest data centre market outside China.

Gross revenue rose 37.7% for 9M 2025 to $322.4m. Adjusted distribution per unit is $7.872m, 11.7% more compared to the same time last year.

The group expects sustained digital demand to continue driving its structural growth, as data centre demand is projected to grow to 100 GW by 2027.

Cloud and traditional workloads will continue to form the foundation of demand, accounting for 70% with the remaining 30% from artificial intelligence.