Parkway Life Reit posts 14.6% rise in H1 DPU to S$0.0877
Net property income falls 2% on the year to S$72.4 million
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[SINGAPORE] Parkway Life Real Estate Investment Trust’s (Parkway Life Reit) distribution per unit (DPU) rose 14.6 per cent to S$0.0877 for its first half ended Jun 30, 2026, from S$0.0765 in the year-ago period.
Revenue was down 1.6 per cent at S$77.1 million for the half-year period, from S$78.3 million in the previous corresponding period.
This was mainly due to foreign exchange headwinds from the depreciation of the Japanese Yen and lower rental income arising from tenant exits affecting five Japan nursing home properties, the Reit’s manager said on Tuesday (Aug 4).
Net property income (NPI) fell 2 per cent on the year to S$72.4 million for the half year, from S$73.8 million.
Distributable income rose 14.6 per cent year on year to S$57.2 million, from S$49.9 million.
This was underpinned by the Reit’s Singapore and France portfolios.
“The growth was primarily driven by the higher rental contributions from the Singapore hospitals’ Annual Rent Review formula and step-up lease arrangement from the France portfolio, as well as the absence of the France tax provision recognised in the corresponding period last year,” the manager said.
The distribution will be paid out on Sep 8.
Units of Parkway Life Reit closed flat at S$4.22 on Monday, before the results were released.
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