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.

Country Asset Operator
  • 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
  • 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
  • Loyal Residence Ayase
Social Welfare Research Institute Co, Ltd.
  • Bon Sejour Komaki
Benesse Style Care Co.,Ltd.
  • 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.

Key data (as at 31 December 2022)

Assets-Under-Management S$1,145.3 million
Total GFA 447,738 sqm
Nearest date of rental renewals December 2023
Maximum number of beds/saleable rooms 6,539
Occupancy 100%
Weighted Average Lease Expiry (WALE) 12.5 years
Weighted Average Age of Properties (WAAP) 16.9 years