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FinanceKeppel Reit H1 DPU falls 4% to S$0.0261 on enlarged unit base
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Keppel Real Estate Investment Trust (Reit) reported a 4% decline in distribution per unit (DPU) to S$0.0261 for the first half of 2026, down from S$0.0272 a year earlier, due to an enlarged unit base. However, distributable income from operations rose 25.2% to S$119.6 million, and net property income increased 13.3% to S$112.1 million. The Reit committed over 1.1 million square feet of leases, driven by demand from banking, insurance, financial services, and technology sectors, achieving positive rental reversions of 12.8%. The manager also announced the divestment of its majority stake in KR Ginza II, a freehold office building in Tokyo, for 11.5 billion yen (US$70.2 million), with completion expected in Q3 2026. The ex-dividend date is August 5, with payment on September 15.
Source report
By: Chloe Lim
SINGAPORE – Keppel Real Estate Investment Trust (Reit) reported a distribution per unit (DPU) of S$0.0261 for the first half ended June, a 4% decline from S$0.0272 in the same period a year earlier.
The Reit's manager attributed the decrease to an enlarged unit base for the distribution period, according to a Singapore Exchange filing.
Key Distribution Dates
- Ex-dividend date: Aug 5
- Record date: Aug 6
- Payment date: Sep 15
Financial Highlights
| Metric | H1 2026 | H1 2025 | Change | |--------|---------|---------|--------| | Distributable income from operations | S$119.6 million | S$95.5 million | +25.2% | | Anniversary distribution | S$10 million | S$10 million | Unchanged | | Distributable income (incl. anniversary distribution) | S$129.6 million | S$105.5 million | +22.8% | | Net property income attributable to unitholders | S$112.1 million | S$98.9 million | +13.3% |
Leasing and Portfolio Performance
Keppel Reit committed over 1.1 million square feet of leases in H1.
"Demand for new and expansion office space was primarily driven by the banking, insurance and financial services sector, as well as the technology, media and telecommunications sector," the manager said.
The portfolio continued to deliver positive rental reversions, achieving 12.8% in H1.
Divestment Announcement
The manager also announced the divestment of its majority stake in KR Ginza II, a freehold boutique office building in Tokyo, for ¥11.5 billion (US$70.2 million).
- Buyer: A listed real estate company in Japan
- Expected completion: Q3 2026
Market Performance
Units of Keppel Reit closed at S$0.89 on Tuesday, up 0.6% or S$0.005.
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Source
The Business TimesRegional
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Keppel Reit posts 4% lower H1 DPU of S$0.0261 amid enlarged unit base