Keppel Divests 477 Mil Worth Real Estate Assets And Investments
SINGAPORE (July 31): Keppel Limited has continued to step up its efforts to monetise assets, with the latest round of divestments amounting to a total of $477 million.The group has now achieved a total of $915 million in divestment proceeds year to date, under its accelerated monetisation programme.The transactions include the divestment of Keppel’s entire stake in a commercial building in India for $379 million, and a partial stake in Vietnam-based developer Nam Long for $58 million.AdvertisementAdvertisementIn addition, a third-party partner has subscribed to a 30% effective stake in one of Keppel’s residential projects in Ho Chi Minh City, Vietnam. The divestments of the stakes in Nam Long and Smartworks have already been completed, while the other two transactions are expected to be finalised by the fourth quarter of 2025, subject to certain conditions being met.“Our disciplined approach and strong commitment to delivering on Keppel’s asset monetisation goals has enabled us to identify and structure transactions to optimise divestment speed and exit value,” says Lee Kok Chew, head of the Accelerating Monetisation Task Force (AMTF) at Keppel.Keppel has set a near-term monetisation target of between $10 billion and $12 billion by the end of 2026. The group recently announced a $2 billion investment commitment to its fourth flagship offshore facility, through a partnership with leading private equity firms, EIG Global Energy Partners (EIG) and Temasek Holdings.Keppel will release its 1HFY2025 financial results on July 31, and its shares closed 0.25% higher or 2 cents higher at $8.18 on July 30.
Keppel Limited has successfully divested $477 million worth of real estate assets as part of its accelerated monetisation programme. This brings the total proceeds from divestments to $915 million year to date. These transactions include the sale of its entire stake in a commercial building in India for $379 million and its stake in Vietnamese developer Nam Long for $58 million. The group also sold a partial 2.5% stake in Smartworks Coworking Spaces after its IPO in India in July. Additionally, Keppel 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.
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The divestments of the stakes in Nam Long and Smartworks have been completed, while the other two transactions are expected to be finalized by the fourth quarter of 2025, subject to certain conditions being met. According to Lee Kok Chew, who heads Keppel’s Accelerating Monetisation Task Force (AMTF), these divestments demonstrate the group’s disciplined approach and strong commitment to achieving its asset monetisation goals. Keppel has a near-term monetisation target of $10 billion to $12 billion by the end of 2026. The group will release its 1HFY2025 financial results on July 31.
In addition to its divestment efforts, Keppel recently announced a $2 billion investment commitment to its fourth flagship offshore facility through a partnership with leading private equity firms, EIG Global Energy Partners (EIG) and Temasek Holdings. Keppel’s shares closed 0.25% higher or 2 cents higher at $8.18 on July 30.