Keppel DC REIT NPI jumped 33.4% to $43.04m in Q3

Its occupancy rate stood at 93.1%.

Keppel DC REIT’s net property income (NPI) improved 33.4% YoY in Q3, an announcement revealed. Distributable income to unitholders grew 29% YoY to $26m in Q3.

Meanwhile, distribution per unit inched up by 6.3% to $0.185 from $0.174 a year ago.

As of September, the REIT’s portfolio enjoys a weighted average lease expiry (WALE) of 8.5 years whilst its occupancy rate stood at 93.1%.

“Demand for data centre space in key European and Asian hubs continues to be underpinned by demand from hyperscale cloud players, increasing digitalisation and cloud adoption, data centre outsourcing, and other drivers such as data sovereignty regulations,” the firm noted.

“The manager will continue to seek opportunities to capture value and strengthen its presence across key data centre hubs,” Keppel DC REIT said.

In September, the firm inked deal with Macquarie Telecom to construct the REIT’s fourth data centre in Australia.

Upon completion, the facility will be fully-leased to Macquarie Telecom on a 20-year triple net master lease with built-in annual rental escalations and renewal options, enhancing the REIT’s income stability.

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