Singapore-listed Parkway Life REIT said it has achieved a distribution per unit (DPU) of 1.89 Singapore cents for the first quarter, up 17 percent from a year ago.
This was on the back of a 37 per cent rise in net property income for the three months ended March to S$15.2 million.
The trust saw higher revenue from its Singapore hospital properties and positive contributions from its Japan properties.
As at March, the property trust had committed occupancy of 100 per cent across its portfolio.
It said it has no refinancing requirements until the second half of next year.
Despite the deepening global recession, Parkway Life REIT said it remains positive about its prospects, given the continued growth in demand for premium healthcare in the region.
Source : Channel NewsAsia – 7 May 2009