Keppel Reit’s manager remains optimistic on Singapore office in 2024 even as H2 DPU slips 1.7%

THE manager of Keppel Reit remains optimistic regarding its Singapore office segment this year, with expectations for continued positive rental reversions from its local portfolio.

“We remain confident and optimistic on the Singapore office market outlook, at least for our portfolio,” Koh Wee Lih, chief executive of the manager said during an earnings briefing on Tuesday (Jan 30).

The Reit reported higher property income for both the second half and full year ended December 2023, but distributions slipped slightly during the year amid higher borrowing costs.