Portfolio occupancy remained high at 96.0% with double-digit rental reversion of 10.6%. Weighted average lease expiry (WALE) remained relatively stable at 4.7 years, with top 10 tenants' WALE of 8.7 years. Ocean Financial Centre achieved the Building and Construction Authority (BCA) Green Mark Platinum Super Low Energy certification in April 2025.
Keppel REIT's 1QFY2025 net property income (NPI) rose by 13.3% y-o-y to $54.6 million, and distributable income, which includes share of associates and the anniversary distribution and assuming 100% of the management fees are payable in units, rose by 3.2% y-o-y to $57 million. The actual DI including Anniversary Distribution decreased 3.2%.
NPI growth was supported by the performance of 255 George Street. Share of associates increased by 11% y-o-y to $24 million, supported by better performance of the Singapore properties in the CBD.
