Parkway Life REIT (PLife REIT) has given more details of the capital expenditure (CAPEX) works that will be carried out across its Singapore hospitals following a renewal of master leases at these assets.

The assets are namely Mount Elizabeth Hospital, Gleneagles Hospital, and Parkway East Hospital, and the master leases have been signed with IHH Healthcare.

The new master leases run from 23 August 2022 to 31 December 2042 and the master lessee has the option to extend each of the new leases for a further term of 10 years till 31 December 2052.

Related: PLife REIT to receive ROFR for Mount Elizabeth Novena as part of new lease agreements


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By Shariffa Al-Habshee

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