Keppel DC Reit revealed that its distribution per unit (DPU) rose 3 per cent to 2.541 Singapore cents for its first quarter ended Mar 31, 2023, from 2.466 cents the year before.
According to its operational updates, the increase in DPU was mainly due to an increase in gross revenue from the acquisitions of Guangdong Data Centre 2 and the building shell of Guangdong Data Centre 3.
Aside from Guangdong data center acquisition, contributors also include completed asset enhancement initiatives (AEI), renewals and income escalations, and tax savings from approvals obtained for the NetCo bonds to be qualified as QPDS.
The gains were largely offset by net decreased contributions from certain of the Reit’s colocation assets in Singapore because of higher facilities expenses.
Gross revenue rose 6.5% to S$70.4 million for the quarter, from S$66.1 million a year earlier. While the net property income grew 6.3% on year to S$63.9 million for the quarter, from S$60.1 million the same period a year ago.
