Siloam Hospitals SurabayaSiloam Hospitals Surabaya (Photo: Google Maps)

The manager of First REIT has appointed several consultants to aid in the decision on how to proceed with planned development works near Siloam Hospitals Surabaya.

This after a sinkhole disrupted development works on a plot of land next to the hospital.

As REITsWeek reported in early-January 2020, with verification from Surabaya's City Development Agency, local authorities are pointing to these development works as a probable cause of the sinkhole.

Related: Surabaya names First REIT target property in sinkhole investigations

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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.