Parkway Life REIT property, Mount Elizabeth Hospital, in Singapore. (Photo: REITsWeek)

Parkway Life REIT will be included in the FTSE EPRA NAREIT Global Developed Index after the close of business on 18 September 2020.

The FTSE EPRA NAREIT Global Developed Index incorporates REITs and real estate companies, and is developed by FTSE Russell in collaboration with the European Public Real Estate Association (EPRA) and NAREIT.

The index is designed to track the performance of listed real estate companies and REITS worldwide.

“It is a significant milestone for us to be included in the index”, said Yong Yean Chau, CEO of the REIT’s manager.

“This bears testament towards our commitment in achieving long-term growth and value for our unitholders, and highlights PLife REIT’s resilience despite on-going uncertainties in the macro economy”, he said.

“Inclusion in the index will enhance trading liquidity and visibility to investors and index funds worldwide, reaffirming our strong position as one of the largest listed healthcare REITs in Asia”, he added.

Parkway Life REIT was last done on the Singapore Exchange at SGD3.85, which implies a distribution yield of about 3.5% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.