Keppel DC REIT's property in Tampines, Singapore, known as Keppel DC Singapore 2 (Photo: REITsWeek)

Keppel DC REIT has reported a DPU of 1.74 Singapore cents for its 3Q 2017, a rise of some 16.8% compared to the 1.49 cents recorded for the corresponding period of 2016.

However DPU for 3Q 2017 would have risen by 4.2% instead when adjusted for a one-off net property tax refund recorded in 3Q 2016.

Accordingly gross revenue for the quarter increased by 56.6% to SGD35.5 million, while net property income (NPI) increased by 42.1% to SGD32.2 million.

As at 30 September 2017, Keppel DC REIT’s portfolio occupancy was 93.4%, with a weighted average lease expiry (WALE) of 9.2 years.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.