Keppel REIT Management to acquire a 33% stake in Central Boulevard Development for SGD908m.

Keppel REIT Management, a real estate investment trust, agreed to acquire a 33% stake in Central Boulevard Development, a Singapore-registered property development and investment company that owns and manages Marina Bay Financial Centre Tower 3, for SGD908m. The Acquisition represents a strategic opportunity for Keppel REIT to strengthen its position in Singapore’s Central Business District by increasing its ownership interest in the Property. This is in line with Keppel REIT’s objective to deliver stable income and drive sustainable long-term total return by investing in and owning premium commercial assets in Asia Pacific’s key business districts, anchored by a prime Singapore portfolio.