Keppel Reit Q1 DPU falls 13.7% y-o-y on Prudential Tower sale, lower rental support

Singapore

THE sale of Prudential Tower late last year and lower rental support in the first quarter led Keppel Reit to post a distribution per unit (DPU) of 1.70 Singapore cents for the three months ended March 31, 2015. This was a 13.7 per cent drop from the 1.97 cents it paid a year ago.

The office Reit's net property income fell 12.4 per cent to S$34.6 million, while total property income fell 9.4 per cent to S$42.4 million.