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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Parkway Life REIT NPI down 1.2% to $25.9m in Q3

The weakened Japanese Yen exchange rate weighed down on its quarterly performance.

Parkway Life REIT net property income (NPI) falls slightly by 1.2% to $25.9m in Q3.

According to its financial statement, the loss was partially offset by higher rent contributions from its properties acquired in Singapore earlier this year as well as upward minimum guarantee rent revision of Singapore hospitals.

Revenues also declined slightly by 1.4% YoY to $27.7 m in Q3.

Despite the slowdown, total distributable income to unitholders grew 10.1% YoY to $20.4m due to recurring operations and distribution of divestment gains. Distribution per unit (DPU) witnessed a similar growth as it rose 10.1% YoY to 3.37 Singapore cents. 

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