Keppel Divests 477 Mil Worth Real Estate Assets And Investments
Keppel Limited continues its accelerated monetisation programme with the divestment of around $477 million worth of real estate assets. This has brought its latest monetisation figure to about $915 million so far this year. The recent transactions include Keppel’s complete stake in a commercial building in India, which was sold for $379 million, as well as its stake in Nam Long, a Vietnamese developer, for approximately $58 million. If you are interested in investing in overseas properties, you can explore the various projects available for sale around the world.
In addition, Keppel has divested a partial 2.5% stake in Smartworks Coworking Spaces after the company’s initial public offering (IPO) in India in July. The group has also announced that a third-party partner has subscribed to a 30% effective stake in one of its residential projects in Ho Chi Minh City, Vietnam. While the divestments in Nam Long and Smartworks have been completed, the other two transactions are expected to be finalized by the fourth quarter of 2025, pending the fulfillment of certain conditions.
According to Lee Kok Chew, head of the accelerating monetisation task force (AMTF) at Keppel, these divestments are a result of close collaboration with the group’s operating divisions. They have been able to identify and structure transactions that optimize both the speed and value of the divestments. This latest milestone is a reflection of Keppel’s disciplined approach and strong commitment to achieving its asset monetisation goals. The group has a near-term target of divesting $10 billion to $12 billion worth of assets by the end of 2026.
Keppel is set to release its 1HFY2025 results for the period ending June on July 31. The group’s shares closed at $8.18 on July 30, up by 0.25%. In related news, Keppel recently secured $2 billion in new commitments for its flagship funds. It has also divested a 42% stake in Palm City, a development project in Vietnam, for $92.1 million. Additionally, the group has shifted its focus to brownfield redevelopment projects following the completion of Keppel South Central.
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