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Keppel REIT (SGX:K71U) delivered resilient results for 1Q26, underpinned by continued strength across its core markets. Distributable income increased 17.8% to S$62.9m, which is slightly below our expectation.
Growth from retail expansion and joint ventures.
- - Read this at SGinvestors.io -
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Income from joint ventures grew 37.6% y-o-y to S$41.7m due to the acquisition of an additional one-third stake in MBFC Tower 3 (completion: 31 Dec 25) and higher rents from Marina Bay Financial Centre (MBFC) and One Raffles Quay (ORQ) and lower borrowing costs.
Robust rental reversion of 17.2%
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Keppel REIT achieved a robust rental reversion of 17.2% for leases renewed during the quarter (Singapore: 10% and Australia: >50%), reflecting sustained tenant demand and continued flight to quality. Leasing momentum was driven largely by banking, insurance and financial services tenants, which accounted for nearly three quarters of new and expansion demand.
- - Read this at SGinvestors.io -
Portfolio occupancy edges higher.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Jonathan Koh CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2026-04-22
Read also UOB's most recent report:
2026-07-08 Keppel REIT - Divestments Trigger DPU-Accretive Unit Buyback.
Price targets by 3 other brokers at Keppel REIT Target Prices.
Listing of research reports at Keppel REIT Analyst Reports.
Relevant links:
Keppel REIT Share Price History,
Keppel REIT Announcements,
Keppel REIT Dividend Payout Dates & Corporate Actions,
Keppel REIT News
