Gross revenue was up 8.1% y-o-y to $78.3 million and net property income was up 8% to $73.8 million, with contributions from newly acquired properties in Japan and France.
As at June 30, the REIT owns 75 properties across Singapore, Japan, Malaysia, and France worth a total of $2.46 billion.
Yong Yean Chau, CEO of the manager, describes the 1HFY2025 results as an indication of the strength of PLife REIT’s core portfolio and "disciplined growth".
"The expanded contributions from Japan and our successful entry into France have further diversified our income streams while remaining aligned with our focus on resilient, healthcare-related real estate," he adds.
As at June 30, gearing was 35.4%, well below the regulatory limit of 50%; interest coverage ratio was 9.1 times, and the REIT has no debt due till next September.
"We are well-positioned to navigate market volatility and continue delivering sustainable returns to our unitholders," says Yong.
Parkway Life REIT units closed at $4.06 on Aug 5 up 0.74% for the day and up 7.98% year to date.
