- Keppel REIT's share price is trading at a more than 30% discount to book value, which is unjustified – given the healthy demand-supply outlook for Grade-A office assets.
- - Read this at SGinvestors.io -
- Keppel REIT’s new CEO Chua Hsien Yang recently took the helm and we believe this may lead to more active capital recycling and M&A activities.
Portfolio rent reversion rose to 16.5%
- Portfolio rent reversion rose to 16.5% in 4Q24 from +10.2% in 9M24 as Keppel REIT backfilled >50% of space given back by its key tenant at Ocean Finance Centre, at higher rental rates. It is also in active discussions for the remaining space.
- - Read this at SGinvestors.io -
- Looking ahead, some tenant movements are expected at Marina Bay Financial Centre and T-Tower, Seoul but management remains confident of backfilling the spaces, as direct new supply is limited.
- Keppel REIT guided for a mid-to-high single-digital rent reversion for FY25, but we see room for an outperformance as the return-to-office trend continues to strengthen amid a persistent flight to quality.
Proactive asset management
- Read more at SGinvestors.io.
