July 29, 2023 – Parkway Life Real Estate Investment Trust posted a 25.1% increase in net property income for the half year ended June 30, 2023, of S$70.1 million. Distributon-per-unit was 7.29 Singapore cents, representing an increase of 3.3% year-on-year.
Gross revenue increased by 23.6% to S$74.4 million, due principally to contributions from the five nursing homes acquired in September 2022 in Japan, as well as higher rent from its Singapore properties. Revenue was partially offset by the depreciation of the Japanese yen, it said.
