Keppel Limited has divested approximately $477 million worth of real estate assets under its accelerated monetisation programme, bringing its total year-to-date (YTD) monetisation to $915 million.
The recent transactions include the sale of Keppel’s entire stake in a commercial property in India for $379 million and its shares in Vietnamese property developer Nam Long for around $58 million. The group also sold a partial 2.5% stake in Smartworks Coworking Spaces following the company’s IPO in India this July.
In addition, Keppel announced that a third-party investor has taken a 30% effective stake in one of its residential developments in Ho Chi Minh City, Vietnam.
While the disposals of the Nam Long and Smartworks stakes have been completed, the other two transactions are expected to conclude by the fourth quarter of 2025, subject to necessary conditions being met.
“These latest divestments reflect our focused and disciplined strategy to unlock value efficiently,” said Lee Kok Chew, head of Keppel’s Accelerating Monetisation Task Force (AMTF). “By collaborating closely with our operating units, we’ve been able to identify and execute transactions that maximise both speed and value.”
Keppel is targeting asset monetisation of between $10 billion and $12 billion by the end of 2026.
The group is scheduled to release its first-half FY2025 results on July 31.
Keppel shares closed at $8.18 on July 30, up 2 cents or 0.25%.
