Parkway Life REIT to raise annual rent for S’pore hospital properties

Parkway Life Real Estate Investment Trust (REIT) has announced it will revise annual rent for its Singapore hospital properties upwards by 6.25 per cent.

These properties include Mount Elizabeth Hospital, Gleneagles Hospital and East Shore Hospital, and were leased to Parkway Hospitals Singapore for a term of 15 years from 2007.

Parkway Trust Management said the properties are the main contributor to the performance of the REIT, and unit holders will continue to enjoy stable and sustainable returns.

Source : Channel NewsAsia – 9 Oct 2008

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