The Directors of Keppel REIT Management Limited, as Manager of Keppel REIT, are pleased to provide the key business and operational updates of Keppel REIT for the first quarter of 2022.
Keppel REIT achieves distributable income from operations of $53.8 million for 1Q 2022
Key Highlights
- Distributable income from operations[1] for the first quarter of 2022 (1Q 2022) was up 4.3% year-on-year at $53.8 million, including income contribution from Keppel Bay Tower in Singapore which commenced on 19 May 2021.
- Aggregate leverage was 38.7% and all-in interest rate was lower year-on-year at 1.81% per annum.
- 71% of total borrowings are on fixed rates to mitigate interest rate volatility.
- Portfolio committed occupancy of 95.1% and long portfolio weighted average lease expiry (WALE) of 6.1 years.
- Victoria Police Centre certified Carbon Neutral by Climate Active in April 2022.
[1] Keppel REIT adopts half-yearly distributions and any distribution of capital gains for 1H 2022 will be disclosed at the 1H 2022 results announcement.
