Keppel REIT posts $204.5m net property income in 9M

This is thanks to contributions from the firm’s Sydney, Australia portfolio.

Keppel REIT achieved a $204.5m in net property income in the first nine months of the year, a 5.5% increase over the same period last year, driven by contributions and occupancy from its Sydney, Australia, portfolio at 255 George Street and 2 Blue Street.

255 George Street saw 50% interest and an occupancy rate of 96.1%, whilst 2 Blue Street experienced 100% interest and 93.5% occupancy, the firm said.

In Australia, Keppel’s net property income rose to $7.87m in 9M2025, an increase from 3.1% the same period last year. Committed occupancy in Q32025 stood at 9.6%, compared to 93.9 from the previous period.

Meanwhile, shares of results of associates increased by 15% from $65.3m to $75.4m due mainly to higher rentals at Marina Bay Financial Centre and One Raffles Quay.

Occupancy rates in Marina Bay Centre and One Raffles stood at 97.6% and 97.2%, respectively.

Keppel acquired a 75% interest in Top Ryde Shopping Centre in Sydney, Australia for AUS$6,813 ($5,818) per square metre, the firm said, whilst keeping expanded portfolio “Singapore-centric and office-focused.”

Australia accounts for 17.7% and Singapore 78.5% of its $9.5b commercial asset portfolio. South Korea and Japan take 2.9% and 0.9%, respectively.

1AUD = $0.85 as of 29 October 2025 (data from Refinitiv via Google)

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