Keppel Pacific Oak US REIT’s portfolio valuation dips 6.8% YoY to US$1.3b

The REIT cited four priorities that contributed 84% to the decline in valuation.

The valuation of Keppel Pacific Oak US REIT’s portfolio as of 31 December 2023 was US$1.3b, translating to a decline of 6.8% or US$97.1m from the 2022 record.

In a bourse filing, the REIT said The Plaza Buildings, Westmoor Center, Bellevue Technology Center and Iron Point contributed to approximately 84% of the decline in total portfolio valuation.

“This is largely due to the increase in capitalization rates and discount rates, as well as higher vacancy rates assumed for 2024,” the REIT disclosed.

Following the announcement, the REIT also shared that it will defer the disclosure of its 2H23 and FY2023 results.

The REIT was supposed to release the financial statements on 31 January.

Follow the link for more news on

Keppel Group

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia