REITs are the perfect income instrument for an income investor as they are required to pay at least 90% of their profits as distributions.
However, not all REITs are built the same.
Income investors need to sift through the sector to identify the reliable ones that they can buy and keep for their retirement.
Here are four dependable Singapore REITs that you can own for life.
Parkway Life REIT (SGX: C2PU)
Parkway Life REIT, or PLife REIT, is a healthcare REIT that owns a diversified portfolio of 75 properties worth S$2.46 billion.
Its portfolio comprises three hospitals in Singapore, 60 nursing homes in Japan, and 11 nursing homes in France, and a strata-titled property in Malaysia.
PLife REIT is also backed by a strong integrated healthcare player IHH Healthcare Berhad (SGX: Q0F).
The healthcare REIT once again announced a set of sturdy financial results for the first half of 2025 (1H 2025).
Gross revenue rose 8.1% year on year to S$78.3 million while net property income increased by 8% year on year to S$73.8 million.
Distribution per unit (DPU) inched up 1.5% year on year to S$0.0765 because of an enlarged unit base.
PLife REIT’s gearing level was moderate at 35.4% with a very low cost of debt of just 1.5%.
These attributes allow the REIT to continue tapping into debt to acquire yield-accretive properties.
The REIT also recently received approval from the Inland Revenue Authority of Singapore (IRAS) for tax exemption on foreign sourced income from seven of its 11 properties, allowing for full-year tax savings of around S$1.26 million.
CapitaLand Ascendas REIT (SGX: A17U)
CapitaLand Ascendas REIT, or CLAR for short, is Singapore’s oldest and largest industrial REIT with a portfolio of 229 properties.
As of 30 June 2025, the total assets under management (AUM) stood at S$16.8 billion.
CLAR also has a strong sponsor in blue-chip real estate investment manager CapitaLand Investment Limited (SGX: 9CI).
For 1H 2025, the industrial REIT reported a resilient set of earnings.
Gross revenue fell by 2% year on year to S$754.8 million, but NPI dipped by just 0.9% year on year to S$523.4 million.
DPU slipped 0.6% year on year to S$0.07477 because of a slightly enlarged unit base.
CLAR maintained a healthy portfolio occupancy of 91.8% and also reported a positive portfolio rental reversion of 9.5%.
Earlier this year, the industrial REIT completed an acquisition of a logistics centre in the US while also completing a redevelopment of Science Park Drive in Singapore.
Meanwhile, there are also six ongoing projects worth S$498.4 million that are undergoing redevelopment or refurbishment to improve returns on the existing portfolio.
Keppel DC REIT (SGX: AJBU)
Keppel DC REIT is a data centre REIT with a portfolio of 24 data centres across 10 countries.
The REIT’s AUM stood at around S$5 billion as of 30 Jun 2025, and it also boasts a solid sponsor in asset manager Keppel Ltd (SGX: BN4).
Keppel DC REIT reported a stellar set of earnings for 1H 2025 with gross revenue jumping 34.4% year on year to S$211.3 million.
NPI shot up 37.8% year on year to S$182.8 million.
DPU increased by 12.8% year on year to S$0.05133.
Keppel DC REIT reported a strong positive portfolio reversion of around 51% for 1H 2025, a testament to strong demand for its data centres.
Portfolio occupancy rate also stood high at 95.8% and the manager is pursuing third-party acquisitions in Japan, South Korea or Europe with a focus on hyperscale data centres.
Continued developments in artificial intelligence (AI) should sustain the strong demand for data centres, which bodes well for Keppel DC REIT in the long term.
Frasers Centrepoint Trust (SGX: J69U)
Frasers Centrepoint Trust, or FCT, is a retail REIT with a portfolio of nine Singapore suburban retail malls and an office building.
Its total AUM stood at S$7.1 billion and the retail portfolio has a total net lettable area (NLA) of around 2.7 million square feet.
FCT is also supported by a strong sponsor in property development and investment firm Frasers Property Limited (SGX: TQ5).
For the REIT’s first half of fiscal 2025 (1H FY2025) ending 31 March 2025, gross revenue improved 7.1% year on year to S$184.4 million.
NPI climbed 7.3% year on year to S$133.7 million.
DPU inched up 0.5% year on year to S$0.06054.
FCT provided an encouraging business update for its third quarter of fiscal 2025 (3Q FY2025) ending 30 June 2025.
Its retail malls saw resilient performance underpinned by increased tenant footfall and sales.
The REIT also successfully concluded the acquisition of Northpoint City South Wing that will add to its DPU.
Portfolio retail occupancy was high at 99.9%, with shopper traffic and tenant sales increasing 2.1% and 4.4% year on year for the quarter.
FCT also embarked on an asset enhancement initiative for Hougang Mall and is targeting a 7% return on investment.
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Disclosure: Royston owns shares of Keppel DC REIT.
