- 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.
