During the 2HFY2022, the REIT’s property income fell by 1.2% y-o-y to $109.5 million mainly due to the absence of contribution from 275 George Street in Australia. The property was divested in July 2021. The drop in property income was also attributable to the lower property income and net property income from the REIT’s Australia properties and T Tower. These were partially offset by higher property income and net property income from Ocean Financial Centre and Keppel Bay Tower.
The manager of Keppel REIT has reported a distribution per unit (DPU) of 2.95 cents for the 2HFY2022 ended Dec 31, 2022. The DPU for the second half of the FY2022 stood 2.4% higher than 2HFY2021’s DPU of 2.88 cents.
The REIT’s DPU for the FY2022, meanwhile, grew by 1.7% y-o-y to 5.92 cents, up from last year’s DPU of 5.82 cents.
