3 Singapore REITs That Upped Their DPU in 2023

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It has been an unusually tough year for REITs.

Interest rates have surged at their fastest pace in decades and REITs are grappling with higher finance costs that threaten to eat into their distributable income.

Coupled with elevated inflation levels, many REITs saw their staff and utility costs rise, resulting in lower distribution per unit (DPU).

However, there is a crop of REITs that has bucked this trend.

They have managed to post higher distributions despite the challenges faced by the sector.

We profile three Singapore REITs that announced higher DPU for this year.

Parkway Life REIT (SGX: C2PU)

Parkway Life REIT, or PLife REIT, is a healthcare REIT with a portfolio of 61 properties worth S$2.2 billion as of 30 September 2023.

The REIT reported a commendable financial performance during its third quarter 2023 (3Q 2023) business update.

For the first nine months of 2023 (9M 2023), gross revenue jumped 24.6% year on year to S$110.9 million.

Net property income (NPI) increased by 26.2% year…



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