SINGAPORE (Sept 11): Keppel DC REIT is set to join the FTSE EPRA/NAREIT Global Real Estate Index Series (Global Developed Index) with effect from September 23.
The FTSE EPRA / NAREIT Global Real Estate Index Series is an international real estate investment index developed by FTSE Group in cooperation with the European Public Real Estate Association (EPRA) and the National Association of Real Estate Investment Trusts (NAREIT).
The index series is designed to track the performance of listed real estate companies and REITs worldwide and is seen as the leading benchmark for listed real estate investments.
Chua Hsien Yang, CEO of Keppel DC REIT, says, ““This is a significant milestone for Keppel DC REIT, and bears testament towards our commitment in growing the REIT to be recognised amongst real estate equities worldwide. This will enhance Keppel DC REIT’s visibility to index funds, and supports liquidity and capital raising efforts.”
In the most recent quarter, the REIT’s recent acquisitions in Germany and Singapore were noted to have contributed significantly towards its improved performance.
In a July 17 report, DBS lead analyst Derek Tan said, “[Keppel DC REIT] is one of the few REITs in Singapore capable of making accretive acquisitions, supported by a conducive cost of capital. We believe that the REIT will deliver on market expectations of acquisitions which will keep valuations at a premium.”
See also: CICT's manager proposes to acquire ION Orchard at $1.85 billion, subject to EGM
Apart from Keppel DC REIT, Frasers Centrepoint Trust is also set to be included in the EPRA/NAREIT index with effect from September 23. As such, 16 out of the 41 REITs listed in Singapore are part of the index to date.
See: Frasers Centrepoint Trust to be part of FTSE EPRA/NAREIT Global Developed Index from Sept 23
Units in Keppel DC REIT closed 3 cents lower at $1.79 on Wednesday prior to the announcement.
