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Keppel REIT (K71U) investor relations material
Keppel REIT Investor presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic portfolio actions
Divested KR Ginza II in Tokyo for JPY 11.52 billion, achieving a 28.4% premium over purchase price and 9.7% over latest valuation, with portfolio occupancy remaining high at 96.0% post-divestment.
Continued focus on portfolio optimisation through strategic acquisitions and divestments to enhance yield and long-term capital appreciation.
Financial and operational performance
1H 2026 distributable income from operations rose 25.2% year-on-year to $119.6 million, driven by portfolio growth and lower borrowing costs.
Net property income increased 13.1% to $122.5 million, with strong contributions from Top Ryde City Shopping Centre and additional interest in Marina Bay Financial Centre Tower 3.
Aggregate leverage stood at 40.0% and weighted average cost of debt at 3.27% p.a. as of 30 June 2026.
Portfolio and leasing highlights
Portfolio committed occupancy was 96.0% with a weighted average lease expiry (WALE) of 4.5 years.
Approximately 1.1 million square feet of leases were committed in 1H 2026, with a rental reversion of +12.8%.
Tenant base remains diversified, with top 10 tenants contributing 29.3% of gross rent and 30.2% of committed NLA.
- Strong income growth, high occupancy, and ESG focus despite higher borrowing costs.K71U
Investor presentation - Strong income growth, high occupancy, and ESG leadership despite higher borrowing costs.K71U
21st CITIC CLSA Asean Forum presentation - Strong income growth, high occupancy, and ESG leadership despite higher borrowing costs.K71U
Investor presentation - Strong 1H 2025 growth with high occupancy, robust income, and leading ESG credentials.K71U
Investor Day 2025 presentation - Strong income growth, high occupancy, and major ESG progress despite higher borrowing costs.K71U
AGM 2025 presentation - Property income rose 8.9% but DPU fell 3.4% on higher borrowing costs; leverage at 41.3%.K71U
H1 2024 - Net property income rose 11.8% year-over-year, with high occupancy and strong rental reversions.K71U
H1 2025 - NPI rose 6.9% to $215.9m, with 96.7% occupancy and new acquisitions boosting growth.K71U
H2 2025 - NPI up 13.1%, distributable income up 25.2%, DPU at 2.61 cents, and leverage reduced.K71U
H1 2026
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