Keppel REIT Key Business and Operational Updates for the Third Quarter of 2024

The Directors of Keppel REIT Management Limited, as Manager of Keppel REIT, are pleased to provide the key business and operational updates of Keppel REIT for the third quarter of 2024.

Higher property income bolstered by strong operational performance and contributions from 2 Blue Street and 255 George Street

Key Highlights

• 9M 2024 property income and net property income (NPI) increased by 12.3% and 10.8% year-on-year respectively, stemming from strong operational performance, as well as contributions from 2 Blue Street and 255 George Street
• Recorded robust rental reversion of 10.2% and an increase in portfolio committed occupancy to 97.6%
• Portfolio weighted average lease expiry (WALE) and top 10 tenants’ WALE remained long at 4.6 years^[1] and 8.2 years^[1] respectively

^[1] Based on attributable committed gross rent.