Keppel DC REIT on Monday reported a 42 percent jump in third-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 centre purposes, said net property income rose to S$32.3 million in the three months ended September 30 from S$22.7 million last year.
Distributable income rose 20 percent to S$20.18 million, contributed by acquisitions and the one-off capital distribution, it said in a statement.
During the quarter, Keppel DC REIT acquired B10 Data Centre, the REIT's second data centre in Dublin, Ireland, a key data centre hub in Europe. This increased Keppel DC REIT's assets under management to about S$1.54 billion across 13 data centres in Asia and Europe.
As at 30 September 2017, portfolio occupancy was 93.4 percent.
The company said it remains confident that the data centre industry's growth potential will be underpinned by the
increasing reliance on digital data, as well as sustained demand for cloud services.
Keppel DC REIT's current portfolio comprises 13 high-quality data centres strategically located in key data centre hubs.
Its portfolio spans nine cities in seven countries in Asia Pacific and Europe.
Shares in Keppel DC REIT ended down 0.7 percent to S$1.35 on the Singapore Exchange.