Singapore · Delayed Price · Currency is SGD Keppel REIT Earnings Call Transcripts
Fiscal Year 2026
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NPI rose 13.1% year-on-year, driven by Top Ryde City and higher JV contributions, while distributable income grew 25.2%. Divestment of KR Ginza II at a significant premium will reduce leverage, with proceeds earmarked for debt repayment and potential share buybacks. Portfolio occupancy remains high at 96% and rental reversions are strong, especially in Singapore and Australia.
Fiscal Year 2025
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Strong 2025 results driven by strategic acquisitions and robust Singapore office demand, with NPI up 6.9% and portfolio occupancy at 96.7%. Focus for 2026 is on organic growth, cost management, and leveraging refinancing to lower debt costs, while maintaining flexibility for selective acquisitions and divestments.
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Strong H1 2025 results were driven by higher net property income, robust rental reversions, and high occupancy, especially in Singapore and Australia. Borrowing costs are expected to decline, and double-digit rental reversions remain the target.
Fiscal Year 2024
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Property income and NPI grew year-on-year, driven by higher rentals and new acquisitions, but DPU declined due to increased borrowing costs. Portfolio occupancy reached 97%, with stable outlook and ongoing efforts to reduce leverage below 40% through asset recycling.