, Singapore

Keppel DC REIT's NPI down 1.8% to $42.27m in Q3

Its DPU rose 4.3% YoY to $0.0193.

Keppel DC REIT saw its net property income (NPI) dip 1.8% YoY to $42.27m in Q3 from $43.04m in 2018, an announcement revealed.

Despite the NPI decrease, its distribution per unit (DPU) rose 4.3% YoY to $0.0193 from $0.0185, translating to an annualised distribution yield of 4.03%. Distributable income inched up 5.4% to $27.4m from $26m over the same period, thanks to the higher contributions from the Singapore data centres.

However, the report noted that it was partially offset by overseas contribution due to currency depreciation against the Singapore dollar.

Also read: Keppel DC REIT's NPI up 19.9% to $86.49m in H1

Keppel DC REIT announced the proposed acquisitions of Keppel DC Singapore 4 (KDC SGP 4) and the data centre located at 18 Riverside Road Singapore (DC1) for $384.9m and $200.2m, respectively. Once the deals are complete, the REIT said that its assets under management are expected to grow by 30.2% to approximately $2.6b.

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