Listed on the Singapore Exchange Securities Trading Limited on 11 December 2006, First Real Estate Investment Trust (“First REIT” or the “Trust”) is Singapore’s first healthcare real estate investment trust that aims to invest in a diversified portfolio of income-producing real estate and / or real estate-related assets in Asia that are primarily used for healthcare and / or healthcare-related purposes.
Over the years, the Trust has successfully built a high quality and diversified asset portfolio of 32 properties comprising 15 located in Indonesia, three in Singapore and 14 in Japan. The properties are collectively valued at over S$1,145.3 million as at 31 December 2022. The Trust’s healthcare properties in Indonesia are operated by PT Siloam International Hospitals Tbk (“Siloam”) while the Trust’s healthcare properties in Singapore and Japan are operated by well-established third-party operators.
First REIT is managed by First REIT Management Limited, which is 60% owned by OUE Limited and 40% owned by OUE Healthcare Limited ("OUEH"). The Trust has the right-of-first-refusal (“ROFR”) from OUELH and opportunities to tap on its growing healthcare network across Pan-Asia. In addition, First REIT also has a ROFR to a pipeline of hospitals from PT Lippo Karawaci Tbk (“Lippo Karawaci”), a majority shareholder of Siloam.
||Siloam Hospitals Group & PT Lippo Malls Indonesia|
||Siloam Hospitals Group & The Aryaduta Hotel & Resort Group|
||Siloam Hospitals Group|
||The Aryaduta Hotel & Resort Group|
||Hikari Heights Varus Co., Ltd|
||Safety Life Co., Ltd|
||Orchard Care Co., Ltd|
||Social Welfare Research Institute Co, Ltd.|
||Benesse Style Care Co.,Ltd.|
||Pacific Healthcare Nursing Home Pte. Ltd.|
||Pacific Eldercare and Nursing Pte. Ltd.|
||The Lentor Residence Pte. Ltd.|
|Total GFA||447,738 sqm|
|Nearest date of rental renewals||December 2023|
|Maximum number of beds/saleable rooms||6,539|
|Weighted Average Lease Expiry (WALE)||12.5 years|
|Weighted Average Age of Properties (WAAP)||16.9 years|