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Keppel Reit H2 2024 DPU falls 3.4 per cent to S$0.028; manager confident of strong Singapore office demand

DPU fall comes despite a 13.6% increase in H2 FY2024 net property income to S$105.1 million

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Megan Cheah
Benjamin Cher

Megan Cheah &

Benjamin Cher

Published Mon, Jan 27, 2025 · 06:13 PM
    • Despite higher net property income, Keppel Reit's distributable income fell due to higher borrowing costs and lower rental support.
    • Despite higher net property income, Keppel Reit's distributable income fell due to higher borrowing costs and lower rental support. PHOTO: BT FILE

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    THE manager of Keppel Real Estate Investment Trust (Reit) reported distribution per unit (DPU) of S$0.028 for the second half ended Dec 31, 2024, falling 3.4 per cent from S$0.029 in the corresponding year-ago period.

    It will be paid on Mar 17, after the ex date of Feb 5 and record date of Feb 6, said the Reit’s manager in a bourse filing on Monday (Jan 27).

    Revenue for the period was S$136.5 million, up 15.5 per cent on-year from S$118.2 million. Net property income rose 13.6 per cent to S$105.1 million, from S$92.5 million year on year.

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