Keppel REIT's (SGX:K71U) distributable income from operations surged 19.7% to SG$57.9 million in the first quarter of the year from SG$48.4 million a year earlier.
Net property income attributable to unitholders was up 9.1% to SG$54.7 million from SG$50.1 million in the year-ago period, according to a Tuesday filing with the Singapore Exchange.
Portfolio occupancy remained high at 97.1% at the end of the quarter, backed by rental reversion of 17.2%. Meanwhile, the weighted average lease expiry (WALE) for the portfolio and the top 10 tenants was at roughly 4.4 years and 8.0 years, respectively.
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