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 2023.
Improved Operational Performance Supported by Healthy Demand
Key Highlights
- Property income in 9M 2023 increased 5.0% year-on-year to $172.6 million from higher rentals achieved and portfolio occupancy
- Achieved higher portfolio committed occupancy of 95.9% for 9M 2023 compared to 94.9% in 1H2023
- Positive rental reversion supported by healthy demand and portfolio weighted average lease expiry (WALE) remained long at 5.6 years
- Aggregate leverage at 39.5% and all-in interest rate of 2.85% p.a. with 76% of borrowings on fixed rates
