Keppel Refines Lease Extension Structure After Full Exit From Genting Lane Data Centres

Keppel Corporation Limited ( (SG:BN4) ) just unveiled an update.

Keppel Ltd. has adjusted the land lease extension arrangements for two data centre buildings, KDC SGP 7 and KDC SGP 8, located at 82 Genting Lane in Singapore, following the completion of a staged divestment process. The company has fully exited its direct and economic interests in the owner entity, Memphis 1 Pte. Ltd., and in the underlying assets, while the properties are now held by a trust structure wholly owned by Keppel DC REIT, in which Keppel remains an investor and sponsor. The revised lease structure with JTC Corporation over the originally granted 60-year term provides more certainty over the tenure of these strategically located data centre assets, supports the long-term stability of Keppel DC REIT’s portfolio, and underscores Keppel’s capital recycling strategy of shifting from direct ownership of data centre assets towards an asset-light, fee-based model via its managed REIT platforms.

The most recent analyst rating on (SG:BN4) stock is a Buy with a S$12.20 price target. To see the full list of analyst forecasts on Keppel Corporation Limited stock, see the SG:BN4 Stock Forecast page.

More about Keppel Corporation Limited

Keppel Ltd. is a Singapore-based conglomerate with significant interests in real assets and asset management, including data centres, infrastructure and related urban solutions. Through its stakes in platforms such as Keppel DC REIT, the group is active in developing, operating and recycling capital from data centre assets in Singapore and the region, targeting institutional and corporate tenants seeking digital infrastructure capacity.

Average Trading Volume: 3,849,432

Technical Sentiment Signal: Buy

Current Market Cap: S$18.13B

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