The Investor
21 Apr 2026, 18:00
Keppel REIT reported solid first-quarter 2026 performance, driven by higher rental reversions and improved occupancy across its key markets. The company said property income rose 14.4% year-on-year, while net property income increased 9.7%, supported by contributions from Top Ryde City Shopping Centre and stronger occupancy at Ocean Financial Centre.
The REIT also saw a 37.6% rise in its share of joint venture results, mainly due to its increased stake in Marina Bay Financial Centre Tower 3, alongside higher rental rates and lower borrowing costs.
Portfolio performance remained resilient, with occupancy at a high 97.1% and rental reversion for lease renewals reaching 17.2%. The weighted average lease expiry stood at around 4.4 years for the overall portfolio and 8.0 years for its top tenants, reflecting income stability.
Keppel REIT said the results highlight continued strength in its office portfolio and effective asset management strategy amid improving leasing conditions.
The REIT also saw a 37.6% rise in its share of joint venture results, mainly due to its increased stake in Marina Bay Financial Centre Tower 3, alongside higher rental rates and lower borrowing costs.
Portfolio performance remained resilient, with occupancy at a high 97.1% and rental reversion for lease renewals reaching 17.2%. The weighted average lease expiry stood at around 4.4 years for the overall portfolio and 8.0 years for its top tenants, reflecting income stability.
Keppel REIT said the results highlight continued strength in its office portfolio and effective asset management strategy amid improving leasing conditions.