Parkway Life REIT Q3 DPU up 12.1%

Singapore-listed Parkway Life Real Estate Investment Trust has reported a third-quarter distribution per unit (DPU) of 1.91 cents, up 12.1 per cent from a year ago.

Net property income for the three months ended September grew 23.3 per cent to S$15.4 million.

Parkway Life said it saw continued growth in the third quarter as a result of increased rental income from its Japanese properties and an upward rental revision of its Singapore hospitals.

The healthcare trust said it continues to enjoy strong growth over the long term.

It said demand for quality private healthcare will remain resilient and continue to grow, driven by growing affluence and fast-ageing populations.

The REIT said it remains optimistic about its growth in the medium to long term.

Source : Channel NewsAsia – 5 Nov 2009

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