Keppel REIT DPU Up 2.7% In 2020

January 26, 2021 – Keppel REIT announced that it has achieved a distribution per unit (DPU) of 5.73 cents for the full year 2020 2.7% increase over the previous year.

Keppel REIT has achieved distributable income of $99.8 million for 2H 2020, bringing FY 2020 distributable income to $194.6 million, an increase of 2.8% from FY 2019.

Despite the COVID-19 pandemic, Keppel REIT focused on executing its portfolio optimisation strategy during the year. This improved yield, as well as generate stable income for the REIT and deliver sustainable growth in total Unitholder returns.

In Melbourne, the Victoria Police Centre at 311 Spencer Street, which serves as the headquarters for the Victoria Police, has achieved practical completion on 9 July 2020. This also marked the commencement of the 30-year lease to the Minister for Finance for the State of Victoria, and the asset’s income contribution to Keppel REIT.

The acquisition of a 100% interest in Pinnacle Office Park, a freehold Grade A commercial property within Macquarie Park in Sydney, was announced in September 2020 and completed on 31 December 2020. The acquisition allows Keppel REIT to gain a foothold in Macquarie Park, a key Australian metropolitan office market, as well as expand into the Grade A metropolitan office space to meet the growing demand from tenants seeking cost-effective spaces or hub-and-spoke business models.

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