Keppel REIT posts 6.6% DPU dip for FY2025

Distributable income from operations edged down to $192.4m.

Keppel REIT reported a distribution per unit of 5.23 cents for the full year ended 31 December 2025 (FY2025), down 6.6% year-on-year (YoY) from 5.60 cents.

Distributable income, including anniversary distribution, slipped 1% to $212.4m, whilst distributable income from operations fell 1.1% to $192.4m, according to a bourse filing.

Meanwhile, net property income rose 6.9% YoY to $215.9m in FY2025, on the back of portfolio occupancy and contributions from acquisitions completed in 2024.

Property income increased 4.9% to $274.5m.

The share of results from associates and joint ventures climbed 13.3% to $124.6m, reflecting higher rental contributions from Singapore assets and lower borrowing costs.

As of 31 December 2025, Keppel REIT’s portfolio was valued at $11.7b.

The REIT’s portfolio occupancy stood at 96.7%, with rental reversion of 11.5% for leases renewed during the year.

The weighted average lease expiry was approximately 4.4 years for the portfolio and 8.1 years for the top 10 tenants.

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