Keppel REIT's net property income rises 7.2% YoY to $48.2M in 1Q24

The REIT attributed the increase to strong operating performance.

Keppel REIT recorded a 7.2% YoY higher net property income (NPI) of $48.2m in 1Q24, driven by robust operational performance.

In the same period, the REIT saw its NPI attributable to unitholders rise by 7.1% YoY to $43.4m and its property income increase by 6.3% YoY to $61.3m.

The REIT attributed its improved property income to higher rentals from Ocean Financial Centre and contribution from 2 Blue Street.

Despite a stronger 1Q24 operating performance, distributable income, including anniversary distribution, held steady at $55.2m, primarily due to increased borrowing costs.

Follow the link for more news on

Keppel REIT

Financial Statements

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