Basis Bay Data Centre, through Basis Bay Capital Management, was already part of Keppel DC REIT’s portfolio when it listed in 2014.

The manager of Keppel DC REIT has announced it is divesting the Basis Bay Data Centre in Cyberjaya, Selangor Darul Ehsan, Malaysia for RM55.6 million ($16.9 million).

According to a Jan 2 bourse filing, Keppel DC REIT’s subsidiary Basis Bay Capital Management entered into a sale and purchase agreement on Dec 31, 2024 with Basis Bay Services MSC, an unrelated third party that is also the current master lessee and facility manager of the property.  

The divestment is expected to be completed around 3Q2025, says the REIT manager. 

Basis Bay Data Centre, through Basis Bay Capital Management, was already part of Keppel DC REIT’s portfolio when it listed in 2014. 

Keppel DC REIT’s share of the consideration paid by the purchaser is RM55.1 million, based on Keppel DC REIT’s 99.0% shareholding in Basis Bay Capital Management. This share of the consideration is 2.6% above the assessed market value of Keppel DC REIT’s 99.0% freehold interest in the property, according to a Dec 1, 2024 valuation by JLL.

According to Keppel DC REIT’s website, Basis Bay is a four-storey data centre co-location facility with an adjacent two-storey office building in Cyberjaya, approximately 50km southwest of the Kuala Lumpur City Centre and 30km from Kuala Lumpur International Airport.

The divestment is not expected to have any material impact on Keppel DC REIT’s net asset value and distribution per unit of Keppel DC REIT for the financial year ending Dec 31, 2025. 

Units in Keppel DC REIT closed 3 cents higher, or 1.38% up, at $2.21 on Jan 2.