Parkway Life Real Estate Investment Trust (PLife REIT) has reported a robust performance for the first half of 2025, with gross revenue increasing by 8.1% year-on-year to S$78.3 million. This growth is attributed to higher rental contributions from its Singapore hospitals and new acquisitions in Japan and France. The net property income also saw an 8.0% rise, reaching S$73.8 million.
Distributable income to unitholders grew by 9.5% year-on-year to S$49.9 million, translating into a 1.5% increase in Distribution per Unit (DPU) to 7.65 Singapore cents. The expansion into France in 2024, which marked PLife REIT’s first foray into Europe, contributed significantly to this growth. The acquisition of 11 nursing homes in France and one in Japan provided a stable income stream, despite the depreciation of the Japanese Yen.
PLife REIT’s portfolio now includes 75 properties across Singapore, Japan, Malaysia, and France, valued at approximately S$2.46 billion. The strategic geographic diversification aims to reduce reliance on the Japanese market and tap into mature healthcare markets with long-term demand drivers.
Chief Executive Officer Yong Yean Chau stated, “Our resilient 1H 2025 results reflect the strength of PLife REIT’s core portfolio and our commitment to disciplined growth.” With a gearing ratio of 35.4% and no long-term refinancing needs until September 2026, PLife REIT is well-positioned to navigate market volatility and continue delivering sustainable returns.
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