I'd say Keppel DC REIT is the more compelling move.

A 13.2% rise in Q1 DPU is a concrete operating result, backed by 18.4% revenue growth and 19.4% growth in net property income. That feels like a cleaner story than a one-off deal headline.

StarHub’s Ensign transaction may unlock value, but Keppel DC REIT looks more straightforward to me because the numbers are already showing up in operating performance.

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