Keppel REIT (K71U) presented its first-quarter results at Citi’s 2026 Pan-Asia Conference on May, 18 2026, disclosing that net property income rose 9.7 % year on year to 59.9 million Singapore dollars.

Property income increased 14.4 % to 78.6 million Singapore dollars, supported by contributions from the recently acquired 75 % stake in Top Ryde City Shopping Centre and higher occupancy at Ocean Financial Centre. Share of results from joint ventures advanced 37.6 % to 41.7 million Singapore dollars, following the purchase of an additional one-third interest in Marina Bay Financial Centre Tower 3 in Dec, 2025.

Distributable income from operations reached 57.9 million Singapore dollars, up 19.7 % from the prior-year quarter. Aggregate leverage stood at 40.2 % as of Mar, 31 2026, while the weighted average cost of debt for the quarter was 3.16 % with 62 % of borrowings on fixed rates.

Portfolio committed occupancy improved to 97.1 % versus 96.7 % at Dec, 31 2025. Weighted average lease expiry was 4.4 years, and rental reversion for the quarter was 17.2 %. Approximately 455,500 square feet of space (attributable 240,800 square feet) was leased during the period, with renewals representing 49.5 % and new leases 50.5 %.

The trust noted that sustainability-linked funding accounted for 79 % of total borrowings, and nine properties are fully powered by renewable energy.