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Keppel DC Reit
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Joelton
Supreme |
15-May-2026 11:10
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Keppel DC REIT' s DPU could rise by as much as 5% from AEI of SGP1 says JP Morgan During Keppel DC REIT&rsquo s 1QFY2026 results announcement, the manager articulated that it is considering a " transformational" AEI for KDC SPG 1, a data centre with just 53% occupancy by net lettable area (NLA). In a report dated May 11, JP Morgan says that KDC SGP 1 is the only asset owned by Keppel DC REIT in Singapore that is without a full Green Mark certification suggesting that its PUE of 1.25 or power usage effectiveness has failed to meet the minimum standard for certification. &ldquo The potential transformational AEI at SGP 1 would be best realised through redevelopment into a new data centre. Redevelopment targeting a PUE of 1.25, in line with DC-CFA2 requirements, would yield efficiency gains of 36-52%, assuming an existing PUE of 1.7-1.9,&rdquo JP Morgan says in its report. Data Centre &ndash Call for Application (DC-CFA) is a Singapore government initiative (led by EDB and IMDA) to facilitate new, sustainable data centre capacity. DC-CFA2 (announced Dec 2025, closing March 31), requires a data centre to have 50% green energy and " best-in-class" energy efficiency with a PUE of at least 1.3. &ldquo Additional upside could come from Singapore&rsquo s Green Data Centre Roadmap capacity expansion and income/valuation uplift, while addressing potential mandatory PUE requirements under the proposed Digital Infrastructure Act,&rdquo JP Morgan suggests. An AEI that delivers higher PUE would add between 2.9% to 5% more to distributions per unit (DPU) by FY2028, JP Morgan estimates, underpinned by a 114%-173% uplift in net property income (NPI) on redevelopment costs of $251 million to $320 million, based on 11-14MW of capacity and an ROI of 6.8%-8.1%. &ldquo If KDCREIT secures 15% additional power, the accretion will rise to 4.1% to 6.5%,&rdquo JP Morgan further estimates. During the interim, JP Morgan believes that the income loss from SGP 1 which contributed $16.5 million in gross rental income (GRI) in FY2025 compared to total GRI of $441.36 could be offset by raising the amount of management fees in units to 55% from 27%. KDC SGP 1&rsquo s performance has lagged the REIT' s other Singapore assets. &ldquo We believe KDC SGP 1&rsquo s redevelopment will help close the gap. The proposed redevelopment is comfortably within KDCREIT' s 10% development limit relative to its $6.3 billion portfolio. While management may consider divesting a stake to de-risk execution, we believe KDCREIT should pursue the redevelopment on its own balance sheet, given tight occupancies and elevated Singapore data centre demand,&rdquo JP Morgan says. The US bank has an overweight rating for Keppel DC REIT it has raised its end-June 2027 target to $2.60 from $2.55 previously and has also raised DPU for 2026 and 2027 by 5.8% and 5% respectively due to lower interest costs and higher Singapore income from reversions and acquisitions. |
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Joelton
Supreme |
15-May-2026 11:10
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Keppel DC REIT' s DPU could rise by as much as 5% from AEI of SGP1 says JP Morgan During Keppel DC REIT&rsquo s 1QFY2026 results announcement, the manager articulated that it is considering a " transformational" AEI for KDC SPG 1, a data centre with just 53% occupancy by net lettable area (NLA). In a report dated May 11, JP Morgan says that KDC SGP 1 is the only asset owned by Keppel DC REIT in Singapore that is without a full Green Mark certification suggesting that its PUE of 1.25 or power usage effectiveness has failed to meet the minimum standard for certification. &ldquo The potential transformational AEI at SGP 1 would be best realised through redevelopment into a new data centre. Redevelopment targeting a PUE of 1.25, in line with DC-CFA2 requirements, would yield efficiency gains of 36-52%, assuming an existing PUE of 1.7-1.9,&rdquo JP Morgan says in its report. Data Centre &ndash Call for Application (DC-CFA) is a Singapore government initiative (led by EDB and IMDA) to facilitate new, sustainable data centre capacity. DC-CFA2 (announced Dec 2025, closing March 31), requires a data centre to have 50% green energy and " best-in-class" energy efficiency with a PUE of at least 1.3. &ldquo Additional upside could come from Singapore&rsquo s Green Data Centre Roadmap capacity expansion and income/valuation uplift, while addressing potential mandatory PUE requirements under the proposed Digital Infrastructure Act,&rdquo JP Morgan suggests. An AEI that delivers higher PUE would add between 2.9% to 5% more to distributions per unit (DPU) by FY2028, JP Morgan estimates, underpinned by a 114%-173% uplift in net property income (NPI) on redevelopment costs of $251 million to $320 million, based on 11-14MW of capacity and an ROI of 6.8%-8.1%. &ldquo If KDCREIT secures 15% additional power, the accretion will rise to 4.1% to 6.5%,&rdquo JP Morgan further estimates. During the interim, JP Morgan believes that the income loss from SGP 1 which contributed $16.5 million in gross rental income (GRI) in FY2025 compared to total GRI of $441.36 could be offset by raising the amount of management fees in units to 55% from 27%. KDC SGP 1&rsquo s performance has lagged the REIT' s other Singapore assets. &ldquo We believe KDC SGP 1&rsquo s redevelopment will help close the gap. The proposed redevelopment is comfortably within KDCREIT' s 10% development limit relative to its $6.3 billion portfolio. While management may consider divesting a stake to de-risk execution, we believe KDCREIT should pursue the redevelopment on its own balance sheet, given tight occupancies and elevated Singapore data centre demand,&rdquo JP Morgan says. The US bank has an overweight rating for Keppel DC REIT it has raised its end-June 2027 target to $2.60 from $2.55 previously and has also raised DPU for 2026 and 2027 by 5.8% and 5% respectively due to lower interest costs and higher Singapore income from reversions and acquisitions. |
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PiRPiR
Master |
11-May-2026 12:18
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11:39 PM EDT, 05/10/2026 (MT Newswires) -- Keppel DC REIT's (SGX:AJBU) data center in the Netherlands, Almere Data Centre, caught fire on May 7, according to a Friday filing with the Singapore Exchange.
Shares of the REIT were down over 1% in Monday trading. The incident took place in the technical room, with the facility's single tenant confirming that there were no injuries. The master tenant is currently assessing the damage caused by the incident, the filing added. |
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Joelton
Supreme |
17-Apr-2026 11:08
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Keppel DC Reit posts 13.2% higher Q1 DPU of S$0.02833 on strong portfolio performance Distributable income is up 20.7% at S$74.6 million [SINGAPORE] Keppel DC Real Estate Investment Trust (Reit) on Thursday (Apr 16) posted a distribution per unit (DPU) of S$0.02833 for its first quarter, up 13.2 per cent from S$0.02503 in the previous corresponding period. Distributable income for the period stood at S$74.6 million, a 20.7 per cent rise year on year from S$61.8 million. This came on the back of strong portfolio performance, said the manager of the Reit, and contributions from its acquisition of Tokyo Data Centre 3 and remaining interests in Keppel DC Singapore 3 and 4. Net property income rose 19.4 per cent to S$105.2 million for Q1, from S$88.1 million in the year-ago period. The manager said this increase was due to higher contributions from contract renewals and escalations, as well as the Tokyo Data Centre 3 acquisition, though partially offset by the divestment of Kelsterbach Data Centre in Frankfurt, Germany. Revenue for the period was up 18.4 per cent on the year at S$121 million, from S$102.2 million. Portfolio occupancy stood at 95.6 per cent, with a reversion of about 51 per cent. Its portfolio weighted average lease expiry was 6.5 years. As at Mar 31, gearing stood at 35.1 per cent, with the average cost of debt at 2.6 per cent. The interest coverage ratio fell to 7.2 times, due to higher finance costs associated with increased loans drawn in the fourth quarter of FY2025. Finance costs for the quarter were recorded at S$15.1 million, up 20.8 per cent year on year from S$12.5 million. The manager of Keppel DC Reit said data centre demand remains supported by structural drivers, even as the Middle East conflict drives higher energy prices and inflation risks. &ldquo Operators are using asset recycling, including sale and leasebacks and minority-stake sales, to unlock capital for expansion,&rdquo it said. &ldquo These shifts underscore the increasing institutionalisation of the data centre asset class and the need for flexible capital to meet artificial intelligence-driven demand.&rdquo Units of Keppel DC Reit : AJBU +2.15% ended 0.4 per cent or S$0.01 lower at S$2.33 on Wednesday. |
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PiRPiR
Master |
16-Apr-2026 18:12
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10:31 PM EDT, 04/15/2026 (MT Newswires) -- Keppel DC REIT's (SGX:AJBU) distribution per unit or DPU jumped 13% during the first quarter of 2026 to SG$0.02833 from SG$0.02503 a year earlier, according to a Thursday filing with the Singapore Exchange.
Distributable income rose 21% to SG$74.6 million from SG$61.8 million. Net property income climbed 19% to SG$105.2 million from SG$88.1 million in the year-ago period. Gross revenue zoomed 18% year over year to SG$121.0 million from SG$102.2 million, following higher contributions from contract renewals and escalations. Meanwhile, the REIT booked a portfolio occupancy of 95.6% during the period. Shares of the REIT were up |
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spursfan
Supreme |
16-Apr-2026 09:16
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https://links.sgx.com/1.0.0/corporate-announcements/IYA59O0VENIFK9JR/884296_KDCR%201Q%202026%20Operational%20Updates.pdf |
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JurongW
Elite |
27-Mar-2026 17:30
Yells: "Earnings give weight, Chart give wings" |
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JurongW
Elite |
24-Mar-2026 17:24
Yells: "Earnings give weight, Chart give wings" |
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Blackrock becomes substantial shareholder. Purchase 626,000 shares at $2.31 on 20 Mar https://links.sgx.com/1.0.0/corporate-announcements/I358VKZE3056UHDX/880212__Keppel%20DC%20Reit%2003.20.2026%20Form%203_final.pdf |
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beng1102
Elite |
30-Jan-2026 19:33
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I am waiting for end of profit taking to load up more. The short seller has been capitalized on fear of dilution and shorted heavily. That has proven to be unfounded. We can expect short coveing to push the share price strongly soon.
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PiRPiR
Master |
30-Jan-2026 14:20
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https://bt.sg/MB5R | ||||
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PiRPiR
Master |
30-Jan-2026 13:18
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10:19 PM EST, 01/29/2026 (MT Newswires) -- Keppel DC REIT's (SGX:AJBU) distribution per unit or DPU was up 7.1% in the second half of 2025 to SG$0.05248 from SG$0.04902 a year earlier, according to a Friday filing with the Singapore Exchange.
Distributable income zoomed 53% to SG$140.9 million from SG$91.9 million a year ago. Net property income jumped by 57% to SG$200.4 million from SG$127.6 million in the year ago period. Gross revenue rose 50% year over year to SG$230.1 million from SG$153.1 million, driven by accretive acquisitions in Tokyo and Singapore. Analysts polled by Visible Alpha had projected revenue of SG$213.7 million. The REIT's portfolio stood at 95.8%, with a weighted average lease expiry or WALE of 6.7 years. Shares of the REIT were up over 2% in Friday trading. |
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Rightstock
Senior |
30-Jan-2026 11:55
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Keppel DC profit up 50%. May test $2.44 soon.
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beng1102
Elite |
30-Jan-2026 10:16
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Likely to go above $2.4 soon.
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spursfan
Supreme |
30-Jan-2026 08:19
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https://links.sgx.com/1.0.0/corporate-announcements/AX5JNF09HS4W3N4L/873589_KDCR%202H%20and%20FY%202025%20Financial%20Highlights_MREL.pdf |
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Joelton
Supreme |
27-Dec-2025 11:49
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Keppel Data Centre Campus gets conditional approval for 10-year lease extension
This is part of the sale of two hyperscale data centres in the campus to Keppel DC Reit
[SINGAPORE] Authorities have granted a conditional 10-year lease extension, to Jul 15, 2050, for Keppel Data Centre Campus, which is owned by a Keppel-led joint venture (JV), said Keppel and Keppel DC Reit on Friday (Dec 26).
This is part of a deal announced in November 2024 for the real estate investment trust (Reit) to acquire two artificial intelligence (AI)-ready hyperscale data centres from the JV.
Under the deal, Keppel DC Reit will pay the JV &ndash a collaboration between Keppel&rsquo s connectivity division and Cuscaden Peak Investments &ndash S$350 million upon approval of the lease extension. This sum is part of the total sale figure of about S$1.4 billion.
Based on Keppel&rsquo s effective stake in the JV, its share of the S$350 million will be around S$70.9 million. Keppel&rsquo s stake includes its direct interests in the JV and its indirect interests via the Alpha Data Centre Fund.
Loh Hwee Long, chief executive of the manager of Keppel DC Reit, said that the additional decade of tenure positions the Reit to capture the growing demand of Singapore&rsquo s data centre market.
&ldquo This extension, coupled with targeted asset enhancement initiatives (AEI), will reinforce portfolio resilience and unlock growth opportunities, strengthening our ability to deliver sustainable returns,&rdquo Loh said.
The decade-long extension provides &ldquo a further runway and flexibility&rdquo for Keppel DC Reit to execute AEIs, including fit-outs of unutilised space into data halls for Keppel DC Singapore 8, said Keppel and the manager of Keppel DC Reit.
They added that such initiatives are expected to drive revenue and valuation uplift benefits due to the extended land tenure, amplifying returns on investment.
The extended tenure also helps with client retention and contributes to a resilient portfolio and a consistent stream of high-quality cash flows, they said.
The lease extension and the acquisition of the remaining interests in Keppel DC Singapore 3 and Keppel DC Singapore 4 announced earlier in December, will increase the assets under management in Keppel DC Reit&rsquo s portfolio by around 8.5 per cent to S$6.2 billion, from S$5.7 billion.
Keppel will also leverage the extended land lease to advance the campus&rsquo third data centre, Keppel DC Singapore 9. This will be developed by Keppel and its two data centre private funds, the Keppel Data Centre Funds II and III.
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PiRPiR
Master |
26-Dec-2025 16:36
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02:18 AM EST, 12/26/2025 (MT Newswires) -- Keppel DC REIT (SGX:AJBU) will pay around SG$350 million to previous shareholders of Keppel Griffin and noteholders for a land tenure lease extension of 10 years of Keppel DC Singapore 7 and Keppel DC Singapore 8, according to a Friday filing with the Singapore Exchange.
The total proposed payment for the lease extension consideration will be SG$365.6 million, which includes upfront land premium of around SG$9.9 million, acquisition fee to the REIT manager and estimated stamp duty, professional and other fees and expenses. The REIT manager will fund the total transaction through existing cash, issuance of acquisition fee units and debt financing. |
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spore1
Supreme |
16-Dec-2025 16:51
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Fy results should be out in Jan/Feb. ESTIMATE DIVIDEND of about 5.1-5.2 cents
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YuanLong94
Member |
16-Dec-2025 15:15
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last year they given out as advance distribution . Components for earlier 2025 payments (including advanced distributions related to the 2024 preferential offering, ex-dates Feb 4, 2025 For Keppel DC REIT , expect yearly/annual dividends of 0.95 to 1.00 ( around 4 to 4.3% @ 2.2 to 2.4). The DPU confirmed will increase with the data centre high occupency rate and price.
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Formless
Member |
10-Dec 13:01
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why no dividend in Dec? | ||||
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beng1102
Elite |
02-Dec-2025:43
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STRONG BUY now @2.28 as price seem bottoming.
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