Keppel REIT Announces Strategic Acquisitions and Increased Stake in MBFC Tower 3

Key Highlights

• Establishment of a New Subsidiary in Australia: Keppel REIT has established Keppel REIT (Australia) Sub-Trust 9 as part of its acquisition of a 75% interest in Top Ryde City Shopping Centre, Sydney. The subsidiary was set up with an issued and paid-up capital of A\$409,701,000 and is wholly owned by Keppel REIT. Its principal activity is property investment.
• Acquisition of Additional Stake in Marina Bay Financial Centre (MBFC) Tower 3: Keppel REIT has acquired an additional one-third interest in MBFC Tower 3, increasing its stake from one-third to two-thirds. The transaction was conducted through the purchase of shares in Central Boulevard Development Pte. Ltd. from Sageland Private Limited.
• Purchase Consideration Details: The agreed property value for MBFC Tower 3 was set at S\$4,359.0 million (100% interest). For the one-third interest acquired, the value was S\$1,453.0 million, representing a 1.0% discount to the independent valuation by Colliers International Consultancy & Valuation (Singapore) Pte Ltd. The actual purchase consideration paid was approximately S\$906.3 million (exclusive of GST), subject to post-completion adjustments.

Investor Impact & Price Sensitivity

• Significant Capital Deployment: The acquisition of MBFC Tower 3’s additional stake marks a substantial capital outlay for Keppel REIT. Investors should note that the transaction could materially affect Keppel REIT’s financial position and future income streams.
• Portfolio Diversification and Growth: With the establishment of a new Australian subsidiary for the Top Ryde City Shopping Centre and the increased stake in a prime Singapore commercial property, Keppel REIT is actively expanding and diversifying its portfolio. This could have a positive impact on future earnings and asset valuations.
• Potential Impact on Share Value: These high-value acquisitions and increased holdings in landmark assets are likely to be price sensitive, as they may enhance Keppel REIT’s income stability and growth prospects. Investors should monitor for post-completion adjustments and further management commentary on future performance projections.
• Discount to Valuation: The MBFC Tower 3 acquisition was made at a slight discount (1.0%) to independent valuation, which may be viewed positively in terms of value creation for unitholders.
• Ownership Structure Changes: Post-acquisition, Keppel REIT now holds a controlling two-thirds interest in Central Boulevard Development Pte. Ltd., which owns MBFC Tower 3. This could influence strategic decisions and future capital management initiatives for the asset.

Additional Information

• Announcement Date: 4 February 2026
• Manager: Keppel REIT Management Limited
• Jurisdiction: Transactions span both Australia and Singapore, reflecting the REIT’s international growth strategy.

Disclaimer

This article is for informational purposes only and does not constitute or form part of any offer, invitation or solicitation to acquire, purchase or subscribe for units of Keppel REIT in Singapore or any other jurisdiction. Investors should be aware that the value of units and income derived from them may fall as well as rise, and past performance is not indicative of future results. Units are not guaranteed by the Manager, Trustee, or any of their affiliates. Investment in units is subject to risks, including potential loss of principal. Investors are advised to seek independent advice before making any investment decisions.

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