Keppel Ltd. (KPELF,BN4.SI, KPELY) on Friday said relevant authorities have granted conditional approval for a 10-year land tenure lease extension until July 15, 2050 for the Keppel Data Centre Campus at Genting Lane in Singapore.
The approval enables its joint venture to receive a final S$350 million payment as part of the divestment of two data centres to Keppel DC REIT.
The company's share of the S$350 million final payment is expected to be about S$70.9 million, based on its effective stake in the joint venture, including indirect interests through Alpha Data Centre Fund.
Following the lease extension for KDC SGP 7 and 8 and the acquisition of remaining interests in Keppel DC Singapore 3 and 4 announced earlier this month, Keppel DC REIT's assets under management are expected to rise about 8.5% to S$6.2 billion from S$5.7 billion.
Keppel is currently trading is 0.58% lesser at S$ 10.29 Stock Exchange of Singapore.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.