Keppel DC REIT has entered into a contract with Dali Properties Limited to acquire a data centre property in Dublin for EUR30 million (USD37 million).

The Singapore-listed data centre REIT will purchase the remainder of a 999-year leasehold on the property, which began on 1 January 2000.

Once the acquisition is complete, Keppel DC REIT will own the leasehold interest in the property up to the end of year 2998.

The REIT has described the tenure as one that allows it to be more agile in its investment strategy, and provide longer term certainty to its clients in the data centre.

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