Parkway Life REIT Mount Elizabeth HospitalParkway Life REIT property in Singapore, Mount Elizabeth Hospital

Singapore-listed healthcare REIT, Parkway Life (PLife REIT) (SGX:C2PU), has announced distribution per unit (DPU) of 3.35 Singapore cents for its 2Q 2015, a 15.6% increase over the corresponding period in 2014.

Gross revenue for the quarter rose 1.2% to SGD25.6 million from SGD25.3 million in 2Q 2014 while net property income was SGD24.0 million, 1.5% higher compared with a year ago.

“The completion of the asset recycling initiative in March 2015 had resulted in a full quarter rental contribution from the seven new properties in 2Q 2015”, said the REIT in a statement issued 28 July.

PLife REIT has indicated that it remains upbeat for the quarters ahead. “Bolstered by robust demand for nursing homes in Japan and growing healthcare industry in the region, the healthcare sector remains resilient”, it said.

The REIT’s gearing as at 30 June 2015 is at 34.1%.

Units of PLife REIT are currently listed on the Singapore Exchange at SGD2.37.

Parkway Life REIT Mount Elizabeth Hospital
Parkway Life REIT property in Singapore, Mount Elizabeth Hospital

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.