Singapore REITs

Parkway Life REIT Reports 6.7% Rise In DPU

January 26, 2021 – Parkway Life Real Estate Investment Trust (DPU) announced a distribution per unit (DPU) of of 3.57 Singapore cents for the fourth quarter ended 31 December 2020 and 13.79 Singapore cents for the full year ended 31 December 2020, representing an increase of 6.7% and 4.5% year-on-year respectively.

Quarterly gross revenue rose 9% Y-O-Y to S$30.6 million in 4Q 2020 and FY 2020 gross revenue rose 4.9% to S$120.9 million compared to the same period last year.

The growth is largely comprised of revenue contribution from the Japan property acquisitions in December 2019 and 2020, higher rent from the Singapore properties as well as the appreciation of Japanese Yen.

Commenting on the results, Mr. Yong Yean Chau, Chief Executive Officer of the Manager, said: “The health and safety of our tenants, staff and patients have always been a priority, and even more so during this time. As Singapore is opening its borders while Malaysia and Japan are experiencing a surge in COVID-19 infection, our tenants continue to be in operational with the enforcement of strict precautionary infection control measures to keep their employees and patients including nursing care residents safe.”

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