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News - Detailed News Story

Parkway Life Reit raises Q2 DPU by 2.6% on higher rent from Singapore hospitals

02 Aug 2019 09:00

By Fiona Lam

PARKWAY Life Real Estate Investment Trust (Reit) posted a 2.6 per cent increase in its distribution per unit (DPU) to 3.27 Singapore cents for the second quarter, up from 3.19 cents in the year-ago period.

Gross revenue for the healthcare Reit grew 2.9 per cent for the three months ended June 30 to S$28.9 million while net property income (NPI) was up 2.3 per cent at S$26.8 million.

This was mainly due to higher rent from its Singapore properties, revenue contribution from a property in Japan that was acquired in the first quarter of 2018 and the appreciation of the Japanese yen, the Reit manager said in a statement on Wednesday.

Distributable income rose 2.6 per cent to S$19.8 million.


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Attachments: Source: Business Times
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