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

Data from Keppel DC REIT's latest results have been updated into the Singapore REITs table.

Keppel DC REIT has reported distributable income of SGD75.0 million (USD54 million) for 1H 2020, 38.0% higher compared to 1H 2019.

The acquisitions of Keppel DC Singapore 4 and DC1 in 4Q 2019, as well as the addition of Kelsterbach Data Centre in May 2020, contributed to the rise.

Accordingly, Keppel DC REIT declared distribution per unit (DPU) of 4.375 cents for 1H 2020, 13.6% higher than 1H 2019’s 3.850 cents.

As at 30 June 2020, the REIT’s portfolio occupancy was at 96.1% with weighted average lease expiry (WALE) of 7.4 years.

Keppel DC REIT has commenced works to convert additional space at Keppel DC Dublin 2 into a data hall, with expected completion in 1H 2021.

In Singapore, the additional power capacity at Keppel DC Singapore 5 has been fully committed by an existing client in the facility.

Meanwhile, the asset enhancement works at Keppel DC Singapore 5 and DC1 remains suspended.

As at 30 June 2020, the REIT’s average cost of debt was at 1.7% per annum with aggregate leverage at 34.5%.

At its last done price, Keppel DC REIT's current distribution yield is about 3.18%.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.