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 a distribution per unit (DPU) of 2.357 Singapore cents for its 3Q 2020, an increase of 22.1% year-on-year.

This after the REIT’s gross revenue and net property income rose by 46% and 47.6% to SGD46.4 million (USD34 milli0n) and SGD42.2 million respectively.

The REIT saw new take-ups at colocation facilities in Singapore and Dublin, and secured early lease renewal at iSeek Data Centre in Brisbane, Australia.

Its occupancy for the quarter was at 96.7% with a weighted average lease expiry (WALE) of 7.2 years

“COVID-19 and the changes in working practices accelerated the shift to hosted and cloud collaboration solutions”, said Keppel DC REIT in its results presentation.

“The manager will continue to strengthen Keppel DC REIT’s presence and position it to capitalise growth opportunities in the data centre industry”, it added.

Keppel DC REIT was last done on the SGX at SGD2.97, which implies a distribution yield of about 3.17% according to data compiled on the Singapore REITs table.

mm

By Shariffa Al-Habshee

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