Parkway Life Reit joins FTSE EPRA NAREIT Global Developed Index

Published Thu, Sep 3, 2020 · 12:58 PM

PARKWAY Life (PLife) Reit will be included in the FTSE EPRA NAREIT Global Developed Index after the close of business on Sept 18, it said on Thursday.

The index is a leading benchmark index for listed real estate investment companies and Reits worldwide; it was developed by FTSE Russell in collaboration with the European Public Real Estate Association (EPRA), the European association for listed real estate, as well as the National Association of Real Estate Investment Trusts (NAREIT), a US-based association for Reits and publicly-traded real estate companies.

Yong Yean Chau, chief executive of the Reit manager, said: "It is a significant milestone for us to be included in the index. This bears testament towards our commitment in achieving long-term growth and value for our unitholders, and highlights PLife Reit's resilience despite on-going uncertainties in the macro economy.

"Inclusion in the index will enhance trading liquidity and visibility to investors and index funds worldwide, reaffirming our strong position as one of the largest listed healthcare Reits in Asia."

The counter rose three Singapore cents or 0.78 per cent to S$3.89 on Thursday.