Parkway Life Reit's DPU up 1.4% in Q1

Singapore

PARKWAY Life Real Estate Investment Trust (PLife Reit) said its distribution per unit rose 1.4 per cent to 3.32 Singapore cents for its first quarter ended March 31, from 3.28 cents a year earlier, mainly due to additional revenue contribution from three Japan properties acquired in December 2019, rental growth of existing properties and financing cost savings.

Gross revenue grew 5.2 per cent to S$29.9 million from S$28.4 million previously, the healthcare real estate investment trust's (Reit) manager said on Wednesday.