Investor Presentaiton
Well-spread Lease Expiry Profile
Average signing rent for Singapore office leases (1) concluded in 9M 2023 was $12.43 psf pm, supported by healthy
demand for prime office space
Average expiring rents of Singapore office leases (2) (psf pm): $11.58 in 2023, $11.05 in 2024 and $11.13 in 2025
Lease Expiries and Rent Reviews as at 30 Sep 2023
(Based on Committed Attributable NLA)
27.1%
Expiring Leases
24.4%
14.9%
13.3%
13.7%
12.5%
Rent Review Leases
2.5%
0.0%
1.1%
2023
2024
2025
2026
2027
2028 and beyond
Lease Expiries and Rent Reviews (Based on Committed Attributable Gross Rent)
Expiring leases
1.7%
15.7%
18.1%
23.5%
15.0%
Rent review leases
1.4%
26.1%
9.8%
Geographic Breakdown of Expiries and Rent Reviews (3)
Singapore
0.4%
11.6%
14.9%
16.4%
9.3%
8.4%
Australia
South Korea
Japan
1.5%
0.6%
1.6%
0.8%
6.7%
2.9%
29.2%
0.1%
1.0%
1.5%
2.0%
0.3%
0.3%
Keppel REIT
(1) Weighted average for Ocean Financial Centre, Marina Bay Financial Centre and One Raffles Quay.
(2) Weighted average based on attributable NLA of office lease expiries and rent reviews in Ocean Financial Centre, Marina Bay Financial Centre and One Raffles
Quay.
(3) Based on committed attributable area.
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