Keppel DC Reit eyes purchase of 2 hyperscale data centres in S,p0re

Units of Singapore-listed Keppel DC Reit rose on Nov 20 after announcing that it aims to buy two hyperscale data centres here.

- Kang Wan Chern

Investors liked the news and sent the trust's units up 4.1 per cent to $2.28, with a hefty 35.6 million units changing hands.

The units are now up around 18 per cent in 2024.

Keppel DC Reit wants to acquire the two fully contracted, artificial intelligence-ready data centres in Genting Lane from a Keppel Corporation joint venture.

It will outlay $1.07 billion under a 151/2-year lease.

An option to extend the lease by 10 years to July 15, 2050, will raise the price to $1.38 billion, subject to regulatory approval.

While Keppel DC Reit will have ownership of the data centres, its sponsor Keppel will continue to manage, operate and maintain the properties.