Keppel DC Reit's Q2 FY2019 distribution per unit grew 6 per cent year on year to 1.93 cents, in line with our expectations.
Globally, the co-location market is expected to grow by 16 per cent to 18 per cent this year, versus an earlier forecast of 15 per cent to 17 per cent, according to BroadGroup. We lower our risk-free rate assumption from 2.3 per cent to 2 per cent as we expect the interest rate environment to remain conducive over the foreseeable future.Factoring these in, our fair value estimate is bumped up from $1.64 to $1.93.
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