Keppel DC REIT (KDC REIT) is the brightest spot within Keppel Corp, which itself has been impacted by impairments from the Keppel O&M segment. In 3QFY2020 ended Sept 30, KDC REIT’s DPU surged 22% to 2.357 cents and its nine month DPU rose 16.5% to 6.732 cents, underpinned by acquisitions.

In 1HFY2020, the manager of KDC REIT completed the acquisitions of the remaining 999-year leasehold land interest in Keppel DC Dublin 1 and Kelsterbach Data Centre, increasing the REIT’s assets under management to around $2.8 billion as at end June. In 4QFY2019, KDC REIT acquired Keppel DC Singapore 4, a data centre in Tampines. The REIT has obtained tax transparency treatment for its share of taxable income from Keppel DC Singapore 4 and exercised the option to extend its land lease title by 30 years to June 2050.

With the latest acquisitions, 58.2% of its $2.8 billion AUMs are in Singapore, 10.4% in Australia, 4.5% in the UK, and 0.9% in Malaysia, with the remainder in Europe.

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