Parkway Life Reit H1 DPU up 1.5% at S$0.0765 on new assets, higher rental contributions

[SINGAPORE] Parkway Life Reit has raised its first-half distribution per unit (DPU) by 1.5 per cent to S$0.0765 from S$0.0754 in the previous corresponding period. 

Distributable income stood at S$49.9 million, up 9.5 per cent from S$45.6 million. Revenue climbed 8.1 per cent to around S$78.3 million, boosting net property income by 8 per cent to S$73.8 million. 

The higher DPU and distributable income came on the back of the acquisitions of one more nursing home in Japan and 11 nursing homes in France in H2 FY2024, though this was partially offset by the depreciation of the yen, said the real estate investment trust’s (Reit) manager on Wednesday (Aug 6) in its H1 business update.

It also said its Singapore hospitals delivered continued growth with fixed 3 per cent annual rental step-ups through the financial year.

Sister company Parkway Hospitals Singapore, a subsidiary of IHH Healthcare, is the master lessee for Mount Elizabeth, Gleneagles and Parkway East Hospital.

The long-term master leases with Parkway Hospitals Singapore was renewed for 20.4 years from Aug 23, 2022.

As at Jun 30, 2025, the Reit’s portfolio size stood at around S$2.46 billion across 75 properties in Singapore, Malaysia, Japan and France.

Units of Parkway Life Reit closed 0.7 per cent or S$0.03 higher at S$4.06 on Tuesday.