The Directors of Keppel REIT Management Limited, as Manager of Keppel REIT, are pleased to announce the unaudited results of Keppel REIT for the fourth quarter and full year ended 31 December 2019.
Keppel REIT delivers distributable income of $189.3 million for FY 2019
- Distributable income for the fourth quarter of 2019 (4Q 2019) was $47.1 million, including capital gains distribution of $4.0 million, bringing total distributable income for the full year of 2019 (FY 2019) to $189.3 million.
- 4Q 2019 distribution per Unit (DPU) of 1.40 cents was up 2.9% year-on-year, bringing DPU for FY 2019 to 5.58 cents.
- Aggregate leverage lowered to 35.8% and all-in interest rate reduced to 2.77% per annum.
- Increase in sustainability-focused funding with two green loan facilities obtained in FY 2019.
- Strategic acquisition of T Tower and divestment of Bugis Junction Towers as part of portfolio optimisation.
- High portfolio committed occupancy of 99.1% and long portfolio weighted average lease expiry (WALE) of 4.9 years.