Keppel Reit’s road to redemption

[SINGAPORE] Singapore-listed real estate investment trusts (S-Reits) have struggled in 2026, no thanks to the Iran war triggering concerns about higher global inflation and interest rates. For investors who funded Keppel Reit’s recent acquisitions, the adverse turn in sentiment may have been especially galling.

In October last year, Keppel Reit said it would acquire a 75 per cent stake in Top Ryde City Shopping Centre in Australia, funded partly by a placement of nearly 115 million new units priced at S$0.983 each.

Then, in December, it announced the acquisition of a further one-third stake in MBFC Tower 3, along with a preferential offering of 923.2 million new units at S$0.96 each.