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 third quarter of 2021.
Keppel REIT achieves distributable income from operations of $159.9 million for 9M 2021
- Distributable income from operations for the nine months of 2021 (9M 2021) was up 20.8% year-on-year at $159.9 million, due mainly to contributions from Victoria Police Centre in Melbourne, Pinnacle Office Park in Sydney and Keppel Bay Tower in Singapore.
- Aggregate leverage was lowered to 37.6% after debt repayment with proceeds from the divestment of 275 George Street in Brisbane.
- All-in interest rate was reduced year-on-year to 1.99% per annum.
- Keppel REIT’s quality portfolio has remained resilient despite the COVID-19 pandemic, with positive portfolio leasing activities from diverse industry sectors.
- Portfolio committed occupancy of 97.1% with a long portfolio weighted average lease expiry (WALE) of 6.1 years.
- Asset enhancement initiatives at 8 Chifley Square in Sydney to enhance tenants’ experience and rejuvenate the asset.