Keppel Reit secures full occupancy at most of its office towers
New leases, renewals last year at its Raffles Place/Marina Bay offices averaged S$12 psf
THE manager of Keppel Reit (real estate investment trust) said on Sunday that nine of its 11 completed office towers in its two markets - Singapore and Australia - have hit full committed occupancy.
This includes Bugis Junction Towers, Marina Bay Financial Centre (MBFC) Towers 1 and 2, the North and South Towers at One Raffles Quay as well as Ocean Financial Centre in Singapore.
Rental rates last year for new leases and renewals at Keppel Reit's properties in the Raffles Place and Marina Bay precincts in Singapore averaged S$12 per square foot (psf) per month, with a number of leases signed at S$15 psf per month. Leases that were reviewed during the year had an approximate 17 per cent positive rental reversion on average.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale