First REIT's property in Singapore, Pacific Healthcare nursing home in Bukit Merah (Photo: REITsWeek)

Indonesia-heavy healthcare properties landlord, First REIT, has reported a 0.5% rise in its distribution per unit (DPU) for 3Q 2018, which came in at 2.15 Singapore cents.

Accordingly, the REIT’s distributable income for the period registered a 1.4% increase year-on-year to SGD16.9 million (USD12.3 million).

First REIT’s revenue for the quarter increased 5.1% to SGD29.2 million, while its net property income (NPI) rose 5.4% SGD28.9 million on the back of contributions from its latest acquisitions.

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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.