Singapore REIT

Parkway Life REIT Reports Stable Performance Amid COVID-19

April 22, 2020 — Parkway Trust Management Limited (the “Manager”), as manager of Parkway Life Real Estate Investment Trust (“PLife REIT” or the “Group”), one of Asia’s largest listed healthcare REITs, today announced its results for first quarter ended 31 March 2020 (“1Q 2020”).

Gross revenue rose 5.2% year-on-year (“Y-O-Y”) to S$29.9 million in 1Q 2020. Its distribution per unit (DPU) was up to 3.32 Singapore cents in 1Q from 3.23 Singapore cents in 1Q 2019.

Growth is largely attributed to additional revenue contribution from the three Japan properties acquired in 4Q 2019, upward revision of the minimum guaranteed rent for Singapore hospitals by 1.61%2 as well as the appreciation of Japanese Yen (“JPY”).

Consequently, the net property income for 1Q 2020 grew 4.5% to $27.7 million, from S$26.5 million in 1Q 2019.

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