Keppel DC REIT secures 10-year lease extension for $350m

The weighted average land lease expiry extends to 25 years.

Keppel DC REIT has agreed to pay $350.0m to extend the land leases for KDC Singapore 7 and KDC Singapore 8 by 10 years, lifting the weighted average land lease expiry of its portfolio to about 25 years, according to a press release.

The extension follows in-principle approvals from the Singapore Land Authority and Jurong Town Corporation and is expected to be completed after unitholder approval, with the new lease terms taking effect from 1 January 2026, the manager said.

The lease extension will be funded through a combination of internal resources and debt, with no change expected to the trust’s distribution policy. Aggregate leverage is expected to remain within the manager’s stated medium-term range following completion.

Post-extension, Singapore assets will account for a higher proportion of the trust’s weighted average land lease profile, improving income visibility and reducing long-term lease expiry risk based on portfolio figures as at 30 September 2025.

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