Parkway Life REIT's NPI dips 2.1% in Q3 on yen depreciation

Its gross revenue also fell.

Parkway Life REIT's net property income (NPI) dipped by 2.1% YoY to $102.4m in Q3 2024.

The REIT also reported a 2.2% YoY drop in gross revenue, totalling $108.5m for the quarter. In a bourse filing, the REIT attributed the decline in NPI and gross revenue to the depreciation of the Japanese Yen.

However, contributions from its nursing home acquired in August 2024 and two nursing homes acquired in October 2024 helped offset some of the impact of the Yen’s depreciation.

Breaking down the NPI, the Singapore portfolio contributed $73.4m, whilst Japan contributed $28.8m, and the Malaysia portfolio added $112,000.

Despite the declines, the REIT’s distribution per unit (DPU) year-to-date rose by 2.8% YoY to $0.1130, with the Q3 DPU to be distributed as part of its H2 2024 distribution.

Follow the link for more news on

Parkway Life REIT

Financial Statements

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia