This consists of $1.03 billion for the existing land tenure of approximately 15.5 years, as well as an additional $350 million for a 10-year land tenure extension.
Citi Research analyst Brandon Lee has maintained his “buy” call on Keppel DC REIT (KDC REIT), with an unchanged target price of $2.29, after the REIT announced that it will be acquiring two data centres from Keppel. Morningstar equity analyst Xavier Lee also kept his "three star" rating with a higher target price of $2.34 from $2.10 previously.
In its release on Nov 19, KDC REIT announced the acquisition of two completed and fully contracted colocation next-generation artificial intelligence (AI) ready DCs at 82 Genting Lane, KDC Singapore 7 and KDC Singapore 8, for $1.38 billion.
