Keppel DC REIT to be included in Straits Times Index

Keppel DC REIT will be included in the benchmark Straits Times Index with effect from Monday 19 October.

The Straits Times Index is a highly diversified benchmark for the Singapore stock market, consisting of 30 of its largest capitalised and most actively traded stocks.

Mr. Chua Hsien Yang, CEO of Keppel DC REIT Management, said: “The inclusion of Keppel DC REIT in the STI marks an important milestone for Keppel DC REIT since its listing on the Singapore Exchange. This is testament to Keppel DC REIT’s growth and will further increase our visibility among global investors, as well as enhance our trading liquidity.”

Keppel DC REIT, the largest stock on the Straits Times Index reserve list was listed in December 2014 as Asia’s first pure-play data center REIT, with eight assets across six countries and assets under management of approximately $1 billion.

Today, the REIT’s AUM has grown significantly to approximately $2.8 billion, with 18 assets in eight countries across Asia Pacific and Europe.

Unitholders who invested in Keppel DC REIT since its initial public offering would have seen a total unitholder return of approximately 338% as of 15 October 2020, and approximately 47% year-to-date.

Keppel DC REIT is a constituent of the FTSE EPRA Nareit Global Developed Index, MSCI Singapore Small Cap Index and the GPR 250 Index Series.

The Straits Times Index took a hit and extended its losses from Wednesday 14 October, with a fall of 1.25% as a result of ‘grim news surrounding Brexit, a resurgence in COVID-19 cases in Europe and the lack of progress on United States stimulus measures. But it rebounded slightly on Saturday 17 October, climbing 0.37%.

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Keppel DC REIT acquires data center tenant in Netherlands for S$1.55

Keppel DC REIT, the first data centre real estate investment trust listed in Asia, announced the acquisition of Borchveste Almere, the REIT’s tenant at Almere Data Centre in the Netherlands.

The trust purchased the private company for €1 or S$1.55 in order for Keppel DC REIT to hold a direct relationship with a client that was sub-leased by Borchveste Almere at the data centre in the Netherlands.

This sub-lease was Borchveste Almere’s sole business.

The acquisition was completed on the same day as the sale and purchase agreement, which was paid in full and in cash. The pro forma net asset value of Borchveste Almere’s shares was €0 at the time of purchase.

Keppel Data Centres Holding, which is a subsidiary of the REIT’s sponsor Keppel Telecommunications & Transportation, has agreed to be responsible for the expenses in relation to Borchveste Almere.

Keppel Data Centres also owns a data centre located next to Almere Data Centre.

The acquisition is not expected to have any material impact on Keppel DC REIT’s financial performance for the financial year ending on 31 December 2020.

As of writing, Keppel DC REIT is sitting strongly at the top of all other REITs in Singapore, with a net property income of more than $55 million in the first quarter of 2020.

In a presentation released this week, Keppel DC REIT expects demand for data centres to hold up during the pandemic along with a rise of 3.4% in global IT spending and a 14% growth in the global colocation market.