Keppel REIT's Net Property Income grows 16.1% year-on-year Achieves positive rental reversion of 32.3% in 3Q 2014 and Maintains healthy annualised distribution yield of 6.4%
- Net property income for the first nine months of 2014 ("YTD Sept 2014") rose 16.1% year-on-year ("y-o-y") to $117.2 million
- Achieved positive rental reversion of 32.3% in 3Q 2014
- Attained high tenant retention rate of 92% in 3Q 2014
- Strategic rejuvenation of property portfolio with the proposed
acquisition of a one-third interest in Marina Bay Financial Centre
("MBFC") Tower 3 on 18 September 2014 and the successful divestment of
its 92.8% stake in Prudential Tower on 26 September 2014
- With the portfolio upgrade, credit rating agencies Moody's and
Standard & Poor's have both reaffirmed Keppel REIT's rating at
"Baa2" and "BBB" respectively with a stable outlook
- All-in interest rate remains at 2.2%
- Proactive leasing strategy with forward renewals of approximately 175,000 sf for YTD Sept 2014
- Maintained strong committed portfolio occupancy of 99.3%, with seven of 11 office towers fully committed
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