Siloam Hospitals SurabayaSiloam Hospitals Surabaya (Photo: Google Maps)

Sometime within the next five years, First REIT will no longer derive the bulk of its income from Indonesia.

This was the clarification provided by the REIT’s management on 18 July in response to questions over its impending divestment in Surabaya.

First REIT first announced in May 2022 that it is proposing to divest Siloam Hospitals Surabaya, which comprises 5 integrated purpose-built hospital buildings, for about IDR430 billion (SGD40 million).


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By Shariffa Al-Habshee

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