- Keppel DC REIT achieved strong positive rental reversion of more than 30% in 4Q24, the third consecutive quarter of strong double-digit reversion. SGP7 and SGP8, which are designed for AI inference workload, will start contributing in 1Q25.
KDCREIT's 2H24 Results
- - Read this at SGinvestors.io -
Strong organic growth augmented by acquisition of Tokyo Data Centre 1.
- Gross revenue and NPI grew 8.8% and 8.5% y-o-y respectively due to full-quarter contribution from newly acquired Tokyo Data Centre 1 (completion: 31 Jul 24), strong reversions from renewed leases and rental escalation for existing leases. Portfolio occupancy was stable at 97.2%.
- - Read this at SGinvestors.io -
Strong reversion driven by renewal of colocation leases in Singapore.
- Keppel DC REIT achieved strong positive rental reversion of >30% in 4Q24 (2024: 39%). This is the third consecutive quarter of strong double-digit positive rental reversion, a reflection of strong demand and tight vacancy locally. The positive momentum is sustainable as it has several large colocation leases expiring in 2025.
Portfolio valuation increased 3.4% on a same-store basis.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2025-01-27
Previous report by UOB:
2024-11-20 Keppel DC REIT - Rebalancing To Benefit From AI Tailwind While Deleveraging.
Price targets by 4 other brokers at Keppel DC REIT Target Prices.
Listing of research reports at Keppel DC REIT Analyst Reports.
Relevant links:
Keppel DC REIT Share Price History,
Keppel DC REIT Announcements,
Keppel DC REIT Dividend Payout Dates & Corporate Actions,
Keppel DC REIT News
