Parkway Life Real Estate Investment Trust (PLife Reit) has posted a 4.1 percent increase in its Q3 gross revenue to S$22 million, while its net property income rose 3.6 percent to S$20 million.
This was mainly attributed to higher rents from the company’s Singapore properties and full-quarter revenue contributions from its properties in Japan, acquired last year.
For the nine months ended 30 September, gross revenue climbed 10.9 percent to S$64.9 million, while property income surged 10.2 percent to S$59.5 million.
While the trust remains cautious about near- to medium-term acquisition prospects due to global economic uncertainties, it noted that long-term prospects of the regional healthcare industry continue to be strong on the back of rising demand for better quality private healthcare services, boosted by fast-ageing populations.
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