Keppel REIT grows distributable income by 3.4% in first nine months

Keppel REIT's $Keppel Reit(K71U.SG)$ distributable income for the first nine months to the end of September increased by 3.4% year-on-year to $165.4 million.

In its business report released after the market closed on Tuesday (25 October), the Keppel also announced that it would reward unitholders for their support by allocating a total of $100 million from accumulated capital gains to be distributed to them over the next five years until the Trust's 20th anniversary in 2026, with annual payments of $20 million (semi-annually).

According to Keppel REIT, the year-on-year increase in distributable income for the first nine months is mainly due to the contribution from Keppel Bay Tower, which acquired in May 2021. The Trust's disciplined asset portfolio optimization strategy has enabled it to accumulate capital gains over the years.