- Keppel REIT (SGX:K71U) provided a business update for 9M25. Property income and net property income (NPI) increased 5.5% and 8.6% y-o-y to S$204.5m and S$161.3m, respectively, while its NPI attributable to unitholders grew 9.5% to S$147.1m.
9M25 distributable income declined slightly by 0.6% y-o-y to S$144.6m.
- - Read this at SGinvestors.io -
- Keppel REIT’s distributable income would have grown 6.7% instead if 100% of its management fees were paid in units in 9M25.
Portfolio rental reversions stayed firm at 12%.
- - Read this at SGinvestors.io -
- Looking ahead, although Keppel REIT’s average rent of expiring leases in FY26 for its Singapore office leases are higher at S$12.15 per square foot per month (psf pm), management would still be targeting double-digit rental reversions, but acknowledged that this was harder to achieve as compared to FY25.
- Amid tighter supply conditions, Keppel REIT is adopting a disciplined leasing strategy, prioritising rental growth over immediate occupancy.
Committed occupancy improved by 0.4ppt q-o-q to 96.3%.
- Read more at SGinvestors.io.
