SGX:BN4Industrials
Will Genting Lane Lease Extension and AI Campus Expansion Change Keppel's (SGX:BN4) Narrative
Keppel Ltd. and Keppel DC REIT Management Pte. Ltd. recently secured conditional approval for a 10-year land lease extension to 15 July 2050 for the Genting Lane data centre campus in Singapore, triggering a final payment of S$350 million out of the total S$1.38 billion sale consideration to the Keppel joint venture, of which Keppel’s share is about S$70.9 million.
The extended land tenure underpins Keppel DC REIT’s ability to pursue asset enhancement initiatives and develop KDC SGP 9,...