At A Glance

FIRST REIT 2.0 GROWTH STRATEGY


DIVERSIFY INTO DEVELOPED MARKET

  • To reduce geographical and tenant concentration risk; target to increase developed markets exposure to >50% in 3 to 5 years

RESHAPE PORTFOLIO FOR CAPITAL EFFICIENT GROWTH

  • Recycle capital from non-core, non-healthcare assets

STRENGTHEN CAPITAL STRUCTURE TO REMAIN RESILIENT

  • Diversify funding sources and continue to optimise financial position

PIVOTING TO MEGATRENDS

  • Environmental, Social and Governance; ageing population demographics and other growth drivers

RIGHT-OF-FIRST- REFUSAL AGREEMENTS

  • First REIT has the ROFR to Lippo Karawaci’s pipeline of healthcare properties in Indonesia to be operated by Siloam
  • Siloam is the largest and most prominent hospital group in Indonesia, currently operating more than 40 state-of-the-art hospitals across Indonesia
  • First REIT also has another ROFR from OUELH, and opportunities to tap on its growing healthcare network across Pan-Asia

DIVERSIFIED PORTFOLIO OF 31 PROPERTIES VALUED AT S$1,253.01 MILLION AS AT 31 DECEMBER 2021

  • Indonesia: 12 hospitals, 2 integrated hospital & malls, 1 integrated hospital & hotel and 1 integrated hotel & country club
  • Singapore: 3 nursing homes
  • Japan2: 12 nursing homes

HIGH QUALITY HEALTHCARE PROPERTIES

  • Indonesia hospitals are strategically located within large catchment areas of potential patients and each has a "Centre of Excellence"
  • Singapore properties are well-run nursing homes staffed by well-qualified, dedicated and experienced healthcare professionals
  • Japan properties are high-quality freehold nursing homes well-placed across Japan, 100% master-leased to independent, well-established and experienced local nursing home operators

STABLE AND STRONG DISTRIBUTION MODEL

  • Stable cash distributions and committed to distribute 100% of taxable income

1 Based on First REIT’s portfolio valuation of S$962.4 million as at 31 December 2021 and including the asset values of the Japan Nursing Homes on a pro forma basis as at 31 December 2021.
2 The acquisition of 12 nursing homes in Japan was completed on 1 March 2022.