Keppel DC REIT says fourth-quarter property income jumps 31%

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Keppel DC REIT reported a near 31 percent jump in fourth-quarter net property income, helped by in part by acquisitions.

Keppel DC REIT, which invests in a diversified portfolio of income-producing real estate assets used primarily for data center purposes, said net property income rose to S$32.6 million in the three months ended December 31 from S$24.9 million last year.

Distribution per unit stood at 1.75 Singapore cents in the quarter from 1.31 Singapore cents in the same period the previous year.

Distributable income rose 37.1 percent to S$20.2 million, contributed mainly by acquisitions and higher variable income from Keppel DC Singapore 1, it said in a statement.

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Gross revenue rose 37.2 percent to S$36.8 million.

As at end-2017, Keppel DC REIT had assets under management of about S$1.51 billion, comprising 13 data centers in the Asia Pacific and Europe

As at December 31, portfolio occupancy was at 92.6 percent.

Keppel DC REIT's current portfolio comprises 13 high-quality data centers strategically located in key data center hubs.

Its portfolio spans nine cities in seven countries in the Asia Pacific and Europe.

Shares in Keppel DC REIT were unchanged at S$1.47 on the Singapore Exchange.

This article was first published on January 23, 2018