Overview

ABOUT FIRST REAL ESTATE INVESTMENT TRUST

Listed on the Singapore Exchange Securities Trading Limited on 11 December 2006, First REIT is Singapore's first healthcare real estate investment trust. Its investment strategy encompasses a diverse portfolio of yield-accretive healthcare and healthcare-related real-estate assets in Asia.

Over the years, the Trust has successfully built a high quality and diversified asset portfolio of 31 properties comprising 16 located in Indonesia, three in Singapore and 12 in Japan. The properties are collectively valued at over S$1,253.0 million2 as at 31 December 2021. The stable income-producing portfolio covers the full scale of healthcare real estate, including hospitals, nursing homes and other healthcare-related facilities.

First REIT is managed by First REIT Management Limited, which is 60% owned by OUE Limited and 40% owned by OUE Lippo Healthcare Limited ("OUELH"). First REIT enjoys the right-of-first refusal ("ROFR") to the pipeline of hospitals in Indonesia by PT Lippo Karawaci Tbk ("Lippo Karawaci"), Indonesia's largest broad-based listed property company. First REIT also has another ROFR from OUELH, and the opportunities to tap on its growing healthcare network across Pan-Asia.

Country Asset Operator
Indonesia
  • Siloam Hospitals Buton & Lippo Plaza Buton
  • Siloam Hospitals Kupang & Lippo Plaza Kupang
Siloam Hospitals Group & PT Lippo Malls Indonesia
  • Siloam Hospitals Manado & Hotel Aryaduta Manado
Siloam Hospitals Group & The Aryaduta Hotel & Resort Group
  • Siloam Hospitals Yogyakarta
  • Siloam Hospitals Labuan Bajo
  • Siloam Sriwijaya
  • Siloam Hospitals Purwakarta
  • Siloam Hospitals Bali
  • Siloam Hospitals TB Simatupang
  • Siloam Hospitals Makassar
  • Mochtar Riady Comprehensive Cancer Centre
  • Siloam Hospitals Lippo Cikarang
  • Siloam Hospitals Lippo Village
  • Siloam Hospitals Kebon Jeruk
  • Siloam Hospitals Surabaya
Siloam Hospitals Group
  • Imperial Aryaduta Hotel & Country Club
The Aryaduta Hotel & Resort Group
Japan
  • Hikari Heights Varus Ishiyama
  • Hikari Heights Varus Tsukisamu-Koen
  • Hikari Heights Varus Fujino
  • Hikari Heights Varus Kotoni
  • Hikari Heights Varus Makomanai-Koen
  • Varus Cuore Yamanote
  • Varus Cuore Sapporo-Kita & Annex
Hikari Heights Varus Co., Ltd
  • Elysion Gakuenmae
  • Elysion Mamigaoka & Elysion Mamigaoka Annex
Safety Life Co., Ltd
  • Orchard Amanohashidate
  • Orchard Kaichi North
  • Orchard Kaichi West
Orchard Care Co., Ltd
Singapore
  • Pacific Healthcare Nursing Home @ Bukit Merah
Pacific Healthcare Nursing Home Pte. Ltd.
  • Pacific Healthcare Nursing Home II @ Bukit Panjang
Pacific Eldercare and Nursing Pte. Ltd.
  • The Lentor Residence
The Lentor Residence Pte. Ltd.

Its unique and resilient asset class not only couples sound investment strategies and stable returns, but also offers exclusive investment opportunities as First REIT strives to expand its portfolio of healthcare assets in the Asian region.

Key data

Highlight
Assets-Under-Management1 S$1,253.0 million2
Total GFA1 444,558 sqm
Nearest date of rental renewals 2022
Maximum number of beds/saleable rooms1 6,497
Occupancy 100%
Weighted Average Lease Expiry (WALE)1 13.5 years
Weighted Average Age of Properties (WAAP)1 16.2 years

1 Following the completion of the proposed acquisition of the Japan Nursing Homes on 1 March 2022, figures represented here include that of the Japan Nursing Homes

2 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